AST plans to issue the green bonds
Latvian transmission system operator JSC Augstsprieguma Tīkls (AST), which has been assigned a long-term BBB+ credit rating by the international credit rating agency S&P Global Ratings (S&P), plans to debit in the bond market. The bond issue is planned to be organized in several stages and the bond issue will be managed by Luminor banka.
"Debiting the bond market is an important step in the development of AST, including the issuance of green bonds, which goes hand in hand with major capital investment projects in the future and the move towards synchronizing Baltic electricity transmission grids with European networks. The AST strategy is based on sustainability and environmental responsibility, which is crucial in receiving the evaluation to emit the green bonds. It is planned to issue part of the bonds already this year, thus diversifying the sources of financing and promoting the development of the Baltic capital market," reveals Mr. Imants Zviedris, a member of the Board of AST.
"We are really pleased with the expressed trust in Luminor bank by selecting us, as experts in the field, to organize the entrance of Augstsprieguma Tīkls in the capital market. Augstsprieguma Tīkls is a strategically important company in the Latvian economy, with a significant role in the transmission of electricity in the Baltics. Therefore, it is especially important that in the planned bond issue, investors will have the opportunity to invest in green bonds, which is a way to prove the company's long-term thinking.”, says Mr. Gints Belēvičs, Client Manager of Luminor Financial Market dept.
The funding raised through the bond issue will be used for AST investment projects and the refinancing of existing loans. Specific parameters of the bond issue will be defined during the development of the emission documents. It is planned to include the issued bonds in the Baltic debt securities list of Nasdaq Riga AS.
AST's good governance, responsible business and successfully implemented corporate governance principles are also highly valued in the TOP101 rating of the most valuable companies in Latvia, organized by Prudentia and Nasdaq Riga AS. This year, the company has entered the top for the first time, ranking 21st, but in the TOP101 assessment of the company's open management aspects, AST is ranking first. BBB + is an investment grade rating that characterizes high long-term operational stability.