24.09.2026.

On 23 September, the Bank of Latvia approved the Base Prospectus of the second bond issue programme of Latvia’s transmission system operator, AS Augstsprieguma tīkls (AST), for a total amount of up to EUR 100 million, confirming its compliance with Regulation (EU) 2017/1129 of the European Parliament and of the Council on the prospectus to be published when securities are offered to the public or admitted to trading on a regulated market (Prospectus Regulation).

The AST Management Board approved the Base Prospectus on 16 September 2026. The Base Prospectus provides for the issuance, in one or more tranches, of unsecured and unguaranteed bonds with an aggregate programme size of up to EUR 100 million and a maturity of up to 10 years. The final issue size, maturity, coupon rate and other financial terms will be determined prior to the issuance, taking into account market conditions and investor demand.

Alongside the Base Prospectus, AST has prepared a European Green Bond (EuGB) Factsheet, setting out the intended compliance of the planned issuance with the European Green Bond Standard. The Factsheet has received an independent pre-issuance external review from the international credit rating agency S&P Global Ratings, confirming its compliance with the Regulation (EU) 2023/2631 on European Green Bonds and optional disclosures for bonds marketed as environmentally sustainable and for sustainability-linked bonds (EU Green Bond Regulation) and the Regulation (EU) 2020/852 on the establishment of a framework to facilitate sustainable investment on EU Taxonomy (EU Taxonomy Regulation) .

AST’s EuGB Factsheet, Pre-Issuance Review Report and the Base Prospectus of the bond issue programme are available on the AST website: https://www.ast.lv/en/content/bonds/ 

The proceeds of the bond issue will be allocated to electricity transmission network development, modernisation and energy efficiency projects, including the development of transmission lines, substations and critical infrastructure, as well as the third phase of reconstruction of AST’s dispatch control and data centre facilities.

In 2021, AST successfully made its debut in the bond market, becoming the first transmission system operator in the Baltic States to issue green bonds in the amount of EUR 100 million.

Since November 2021, AST has held an investment-grade long-term credit rating of A- with a Stable Outlook, assigned by the international credit rating agency S&P Global Ratings. 

Following a procurement procedure, Luminor Bank AS was selected as the arranger of planned European Green Bond issuance and Sorainen ZAB SIA as legal adviser.

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About AS Augstsprieguma tīkls

AST, the Latvian electrical power transmission system operator, ensures uninterrupted and secure transmission of electricity throughout Latvia. Its vision is to become the leading transmission system operator in the region through the efficient and successful implementation of development-oriented changes. AST has 68.46% shareholding in the capital of the operator of the natural gas transmission and storage system JSC “Conexus Baltic Grid”.

For further information, please contact:

Līva Jēgere,

Head of Communications,

Phone: +371 26151344.

E-mail: liva.jegere@ast.lv