Riga, 2013-01-23 08:03 CET (GLOBE NEWSWIRE) -- As a response to high investor interest in Latvenergo AS securities, Latvenergo AS announces the additional issue of the first Series of Notes in the amount of EUR 30,000,000. The placement of notes will be implemented on 24 January this year.
In accordance with the Final Terms of the first Series of Notes, the nominal amount of the note is 1,000 EUR, the fixed interest rate (coupon) is 2.8% per annum and the maturity term is 15 December 2017. The Final Terms of the additional issue of the first Series of Notes were approved by the Management Board of Latvenergo AS on 21 January this year and are published in the investors section on the company’s website.
In accordance with the Final Terms of the additional issue of the first Series of Notes temporary ISIN code is LV0010801098. Upon admission of the notes to the regulated market the notes will be consolidated and form a single series with the EUR 20,000,000 issued on 19 December 2012 and will have a common ISIN code LV0000801090.
The issue of notes is being implemented under Latvenergo AS LVL 50 million (or its equivalent in EUR) programme for the issuance of notes.
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The Latvenergo Group is the largest power supply merchant in the Baltics, engaging in electricity generation and trade as well as providing electricity distribution and management of transmission system assets. Latvenergo holds one-third of the entire Baltic electricity market. Latvenergo AS has been acknowledged as the most valuable company in Latvia for several years in a row. International credit rating agency Moody’s has assigned Latvenergo AS an investment-grade credit rating of Baa3/stable.
The Latvenergo Group includes the parent company Latvenergo AS (electricity generation and trade, thermal energy generation) and its subsidiaries Latvijas elektriskie tīkli AS (management of transmission system assets), Sadales tīkls AS (electricity distribution), Elektrum Eesti OÜ (electricity trade in Estonia), Elektrum Lietuva UAB (electricity trade in Lithuania) and Liepājas enerģija SIA (thermal energy generation and trade, electricity generation), as well as Elektrum Latvija SIA, a subsidiary of Elektrum Eesti OÜ.