Time and venue: 10:00 a.m., Ministry of Climate and Energy, 165 Latgales Street, Riga.
| No. | Item under consideration | Decision | Rationale |
| 1 | On the bond issue of AS "Augstsprieguma tīkls". |
1. To issue and offer transferable debt securities (bonds) of AS "Augstsprieguma tīkls" under a bond programme, with the bonds to be registered with Nasdaq CSD SE and listed on the Baltic Bond List of Nasdaq Riga AS (admission to trading on a regulated market), for a total nominal amount of up to EUR 100,000,000 (one hundred million euro). 2. To authorise the Management Board of AS "Augstsprieguma tīkls" to undertake all actions necessary to ensure the issuance of transferable debt securities (bonds) of AS "Augstsprieguma tīkls", including, but not limited to, the following: 2.1 The Management Board of AS "Augstsprieguma tīkls" to approve the Base Prospectus of the bond issue of AS "Augstsprieguma tīkls", the Final Terms of the bond issue, as well as any other documents and agreements related to and necessary for the issuance, registration with Nasdaq CSD SE or listing on the Baltic Bond List of Nasdaq Riga AS (admission to and trading on a regulated market) of the transferable debt securities (bonds) of AS "Augstsprieguma tīkls", including any amendments and supplements thereto. 2.2 The Management Board of AS "Augstsprieguma tīkls" to determine, by Management Board resolution, the characteristics of the bond issue of AS "Augstsprieguma tīkls", including, but not limited to, the issue size, which in aggregate shall not exceed EUR 100,000,000 (one hundred million euro), inclusive, as well as the maturity date and coupon rate, and to decide on any amendments thereto, if required 2.3 To establish that the above authorisations shall remain valid until 28 April 2027 3. To assign the Supervisory Board of AS "Augstsprieguma tīkls" the task of exercising oversight over the implementation of Clauses 1 and 2 of this Decision, including determining the financial terms and conditions of the bond issue 4. To assign the Supervisory Board of AS "Augstsprieguma tīkls" the task of informing the Shareholder of AS "Augstsprieguma tīkls", no later than three (3) business days prior to the planned issuance of securities (bonds), of the financial terms and conditions determined for the issuance of securities (bonds) |
AS "Augstsprieguma tīkls" (AST), taking into account the green bonds maturing in 2027 and the capital investments of EUR 1.07 billion envisaged in the Development Plan for 2027–2036, is preparing for a potential financing transaction in the capital markets. On 28 April 2026, AST concluded a mandate agreement with Luminor Bank AS Latvia Branch for the preparation of a bond issue; however, the final decision on the issue has not yet been made. It will be assessed prior to the transaction, taking into account market conditions, investor demand and alternative financing opportunities. Tentatively, the issue is planned for October 2026 in an amount of up to EUR 100 million, through the issuance of unsecured bonds with a fixed interest rate and a maturity of up to ten years. The issue would allow AST to diversify its sources of financing and broaden the range of financing instruments available for the implementation of future investment programmes. AST’s credit rating of A- with a stable outlook facilitates access to financing from investors. The possibility of carrying out the issue as a green bond issue is being evaluated. AST has prepared a Green Bond Framework, and S&P Global Ratings is preparing an independent opinion and pre-issuance review. The public offering will be possible following the approval of the prospectus by Latvijas Banka and the authorisation granted by AST's Shareholder to the Management Board. AST reserves the right to withdraw from the bond issue at any stage of the process. |
| 2 | Other matters. | – | – |
Voting: The decision was adopted unanimously (in favour: 401,033,657 shares).
About AST
AST is a Latvian electricity transmission system operator that provides continuous, safe and sustainably efficient electricity transmission throughout Latvia. Its vision is to become the leading transmission system operator in the region, which operatively and successfully implements development-orientated changes. AST owns 68.46% of the shares in the natural gas transmission and storage system operator JSC Conexus Baltic Grid.
Further information:
Līva Jēgere
Head of Communications
Tel. +371 26151344
E-mail: liva.jegere@ast.lv