Rīgas ūdens green bonds start trading on Nasdaq Baltic Bond List

The essential water and sewerage service provider in Latvia, SIA “Rīgas ūdens”, owned by the Municipality of Riga, has successfully raised EUR 20 million in its first public offering of European Green Bonds. The nominal value of each bond is EUR 100 with a fixed annual coupon rate of 4%, paid quarterly, and a 5-year maturity. The bonds issued by Rīgas ūdens were admitted to trading on the Nasdaq Baltic Bond List by Nasdaq Riga.

Rīgas ūdens is the first municipal company in Latvia that has successfully raised funds through the capital markets, and also the first company in Northern Europe to issue bonds in line with the European Green Bond Standard (EuGB).

The proceeds from the bond issuance will be used for the renovation and expansion of the sewerage pipeline network, as well as the further modernization of “Daugavgrīva”, the largest biological wastewater treatment plant in the Baltics.

The arranger of the bond programme and dealer was Signet Bank AS.

Legal assistance in connection with Rīgas ūdens bond issuance on listing on Nasdaq Riga was provided by the COBALT Banking and Finance team, including Partner Edgars Lodziņš and Senior Associate Krišjānis Bušs.

SIA “Rīgas ūdens” is the largest provider of water supply and sewerage services in Latvia, ensuring the delivery of high-quality drinking water, as well as the collection and treatment of wastewater in Riga and its vicinity—covering around 50% of the national market. Its infrastructure comprises 1,536 kilometres of water pipelines, 1,282 kilometres of sewerage networks, six water extraction stations, eight water pumping stations, five water reservoirs, 107 wastewater pumping stations, a water quality testing laboratory, and a biogas production facility.

Nasdaq announcement.