Riga, 2013-09-27 11:13 CEST (GLOBE NEWSWIRE) -- On 26 September 2013 Latvenergo AS (Baa3/stable, Moody`s) implemented placement of notes in the total nominal value of EUR 15 million under the second series of notes.
The public announcement was made in the Republic of Latvia, in the Republic of Lithuania and in the Republic of Estonia. The yield to maturity range was determined from SW* +1.70% to SW +2.00%. The total amount of the submitted purchase orders had reached EUR 24.04 million. The purchase orders were received from different investors - pension funds, asset management funds, insurance companies and banks in Latvia, Lithuania and Estonia.
The terms of the additional issue of the second series of notes are the following:
Serial number of series of notes: 2 Principal amount of the additional issue: EUR 15,000,000 Amount of the additional notes: 15,000 Nominal amount of the note: EUR 1,000 Annual interest rate (coupon): fixed, 2.8% Issue price: EUR 971,665 Final yield to maturity: 3.458% Issue date: 2 October 2013 Maturity date: 22 May 2020
Aggregate principal amount of the series of notes: EUR 35,000,000
In accordance with the Final Terms of the additional issue of the second series of notes temporary ISIN code is LV0010801163. Upon admission of the notes to the regulated market the notes will be consolidated and form a single series with the notes in the amount of EUR 20,000,000 issued on 22 May 2013 and will have a common ISIN code LV0000801165.
The issue of notes is being implemented under Latvenergo AS LVL 85 million (or its equivalent in EUR) programme for the issuance of notes. The arranger of the issue of notes – SEB banka AS.
The issue of notes is realized within the Latvenergo Group borrowing plans and the net proceeds from the issue of the notes will be used for financing Latvenergo Group`s capital expenditures programme, including but not limited to financing of renewal of transmission and distribution lines, reconstruction of transformer substations, investments in voltage quality improvement, as well as replacement of overhead lines with cable lines to improve the quality and reliability of electricity supply to customers and to reduce the network losses.
* an interpolated interest rate swap derived from a six-year interest rate swap and a seven-year interest rate swap
Additional information : J?nis Irbe Group Treasurer Phone: +371 67 728 239 E-mail: investor.relations@latvenergo.lv
www.latvenergo.lv/investors/eng
About Latvenergo
Latvenergo Group is a pan-Baltic energy company, engaging in electricity and thermal energy generation and supply, electricity distribution services and management of transmission system assets. Latvenergo Group holds one-third of the entire Baltic electricity market, thus ensuring its leadership in the Baltic electricity supply. 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.
Latvenergo Group includes the parent company Latvenergo AS (electricity and thermal energy generation and supply) and its subsidiaries Latvijas elektriskie t?kli AS (management of transmission system assets), Sadales t?kls AS (electricity distribution), Elektrum Eesti OÜ (electricity supply in Estonia), Elektrum Lietuva UAB (electricity supply in Lithuania) and Liep?jas ener?ija SIA (thermal energy generation and supply, electricity generation), as well as Elektrum Latvija SIA (electricity supply), a subsidiary of Elektrum Eesti OÜ.
