Lietuvos Energija prices €300 million green bonds; market quiet but firmer before holiday

Rebecca Melvin

New York, July 3 – Lietuvos Energija UAB, the state-owned Lithuanian utility, launched and priced €300 million 1 7/8% 10-year green bonds on Tuesday, riding the session’s firmer market tone as a number of cross currents influenced investors.

The Vilnius-based company’s new issue – its second green bond – priced at a solid new issue premium to the Lithuania sovereign, according to a market source.

But the session was pretty quiet otherwise ahead of an early market close in the United States for the country’s Independence Day holiday. U.S. financial markets will remain shut on Wednesday in observance of the holiday.

“I don’t think we are going to hear anything until Thursday at the earliest,” a New York-based market source said, regarding new issues in the primary market and notable trends in the secondary. But he added that valuation was somewhat improved, although it pulled back slightly into the market close in New York.

Mexico’s bonds improved in tandem with a somewhat stronger Mexican peso as the market continued to adjust to the victory of Andres Manuel Lopez Obrador, or AMLO, of the National Regeneration Movement, in the country’s presidential election Sunday.

Petroleos Mexicanos SAB de CV’s 2027 bonds were higher by about a point at 102ish, according to Trace data.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.