By Susanna Moon
Chicago, Sept. 27 - Latvenergo AS (Baa3) said it placed €15 million of 2.8% seven-year notes at 97.1665 for a yield to maturity of 3.458% in the second series of notes.
The total amount of the submitted purchase orders was €24.04 million, according to a company press release.
The yield to maturity range was set from 1.7% to 2%.
SEB banka AS was the arranger.
Proceeds be used for financing Latvenergo Group's capital expenditures program, including 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.
Latvenergo said on May 17 that it placed €20 million of 2.8% seven-year notes at 99.4475 for a yield to maturity of 2.8883%.
The latest second series notes will be consolidated and form a single series with the €20 million that settled on May 22.
Latvenergo is the largest power supply merchant in Riga, Latvia.
| Issuer: | Latvenergo AS
|
| Issue: | Notes, second series
|
| Amount: | €15 million
|
| Maturity: | May 22, 2020
|
| Coupon: | 2.8%
|
| Price: | €971.665 per par of €1,000
|
| Yield: | 3.458%
|
| Arranger: | SEB banka AS
|
| Pricing date: | Sept. 27
|
| Issue date: | Oct. 2
|
| Original issue date: | May 22
|
| Rating: | Moody's: Baa3
|
| Total amount issued: | €35 million
|
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