Latvia raises another 1 billion euros on financial markets

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On Monday, April 6, Latvia made another fund-raising trip to the international financial markets, issuing new three-year bonds maturing in 2023.

As with the previous bond sale just a couple of weeks ago which raised half a billion euros, the move appears to have been a success, attracting financing worth 1 billion euros with a yield of 0.209% and fixed coupon (interest) rate of 0.125.

"Today, the Treasury has succeeded in a successful transaction in the international financial markets, thus supplementing public finances with further measures to stimulate the economy and support the population to overcome the consequences of the crisis caused by COVID-19," said Minister of Finance Jānis Reirs.

According to the Finance Ministry the buyers were mainly from European countries, asset managers and banks from Germany, Austria, France and Scandinavia, plus Great Britain. The total investor demand for bonds exceeded 1.4 billion euros.

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