The Republic of Latvia has issued a 7-year sustainability bond, raising EUR 1 billion with a re-offer yield of 3.525% and a coupon of 3.500%. The bonds were purchased by more than 70 investors, primarily asset managers from across Europe, with total investor demand exceeding EUR 2.4 billion. BNP Paribas and Crédit Agricole CIB acted as joint lead managers for the issue.
This is Latvia’s second sustainability bond issuance under its Sustainable Bond Framework, supporting the country’s sustainable development and demonstrating its strong commitment to achieving climate neutrality by 2050 and transitioning to a sustainable and socially inclusive economy.
Independent reviewer Sustainable Fitch assigned the highest possible assessment to the alignment of Latvia’s updated Sustainable Bond Framework with international principles and best market practice. The framework will enable Latvia to continue issuing sustainability bonds in the future, helping to attract new investors and secure financing on favourable terms.
Legal assistance to the joint lead managers was provided by COBALT Banking and Finance Partner Edgars Lodziņš, Partner Sandija Novicka and Senior Associate Krišjānis Bušs.
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