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Latvia considers raising at least 1 bln euros through bond issues in 2016

Xinhua, January 7, 2016 Adjust font size:

Latvia is planning new bond issues this year to raise at least one billion euros (about 1.08 billion U.S. dollars), local media reported citing a Treasury spokeswoman.

"There are plans to borrow both in the domestic and foreign financial markets this year in order to raise the money necessary to finance the budget deficit planned for 2016, provide government loans and repay government debt, as well as to redeem one billion U.S. dollar worth of five-year bonds maturing in February 2017," Treasury spokeswoman Eva Dzelme explained.

The Treasury might raise an estimated one billion U.S. dollars through one or two Eurobond issues this year, Dzelme said, adding that decisions on the possible bond issues would be taken flexibly, based on the market situation, which still remains quite changeable.

Latvia launched two bond issues in 2014, raising one billion euros through seven-year bonds and another billion euros through 10-year bonds. (1 euro = 1.08 U.S. dollars) Endit