14.10.2026
On 14 October, AS "Augstsprieguma tīkls" (AST) placed five-year European Green Bonds (EuGB) in the amount of EUR 70 million with a fixed annual interest rate (coupon) of 4.768% and a yield of 4.768%. The financing raised represents an investment in strengthening the security and resilience of the transmission network. The bonds will be issued in accordance with the European Green Bond Standard, which sets out uniform requirements for allocating proceeds to projects aligned with the EU Taxonomy.
"Stable investor interest demonstrates confidence in AST and our development plans. The financing raised will enable us to continue investing in the security and resilience of the transmission network, as well as in improving energy efficiency. In line with the ten-year development plan and the bond issue programme, we will invest the funds in the renewal of infrastructure and the development of new interconnections with Lithuania and Estonia, thereby strengthening the security of electricity transmission and the resilience of the entire power system," explains Rolands Irklis, Chairman of the AST Management Board.
Over the next five years, EUR 545 million is planned to be invested in the modernisation, resilience and protection of Latvia's electricity transmission system. Of this amount, EUR 381 million is planned to be financed from AST's own funds, including borrowed capital. The proceeds of the issue will be allocated to transmission network development, modernisation and energy efficiency projects, including the development of transmission lines, substations and critical infrastructure, as well as the third phase of reconstruction of AST's dispatch control and data centre facilities.
The bond issue demonstrates AST's high governance standards and provides access to a broad range of investors, including institutional investors in the Baltic States and international capital markets. Bond purchase orders were received from more than 21 investors, including pension funds, asset managers, insurance companies and banks in the Baltic and Nordic countries, as well as international financial institutions.
An independent pre-issuance review by the international credit rating agency S&P Global Ratings confirms that AST's European Green Bonds comply with the requirements of Regulation (EU) 2023/2631 and the EU Taxonomy Regulation (EU) 2020/852.
The European Green Bond issue was arranged by Luminor Bank AS, legal advice was provided by Sorainen ZAB SIA, and Futurcene SIA advised on the green framework.
In 2021, AST successfully made its debut in the bond market, becoming the first transmission system operator in the Baltic States to issue green bonds in the amount of EUR 100 million.
Since November 2021, AST has held an investment-grade long-term credit rating of A- with a Stable Outlook, assigned by the international credit rating agency S&P Global Ratings.
The Final Terms of the bond issue are attached to this notice.
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The information contained herein is not intended for release, publication or distribution, in whole or in part, directly or indirectly, in or into the United States, Australia, Japan, Canada, Hong Kong, South Africa, Singapore or any other jurisdiction, or under any circumstances, in which such release, publication or distribution would be unlawful. The information contained herein does not constitute an offer or solicitation to sell bonds in any jurisdiction in which such offer, purchase or sale of bonds would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any such jurisdiction. Persons into whose possession this announcement comes are required to inform themselves about and observe any such restrictions.
This announcement does not constitute an offer to sell or a solicitation of an offer to buy or subscribe for any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements under the United States Securities Act of 1933, as amended. The Issuer has not registered and does not intend to register any portion of any offering in the United States or to conduct a public offering of any securities in the United States.
About AS Augstsprieguma tīkls
AST, the Latvian electrical power transmission system operator, ensures uninterrupted and secure transmission of electricity throughout Latvia. Its vision is to become the leading transmission system operator in the region through the efficient and successful implementation of development-oriented changes. AST has 68.46% shareholding in the capital of the operator of the natural gas transmission and storage system JSC “Conexus Baltic Grid”.
For further information, please contact:
Līva Jēgere,
Head of Communications,
Phone: +371 26151344.
E-mail: liva.jegere@ast.lv