Nasdaq Baltic Exchanges Record Highest Number of Bond Offerings in 30 Years

22.05.2025 RIG, TLN, VLN

The Nasdaq Baltic Exchanges are recording a historic milestone – with 9 public bond offerings ongoing this week. Such intensity of bond offerings has not been observed in the Baltic markets over the past 30 years.

From January to April 2025, a total of 10 corporate bond offerings were carried out on the Nasdaq Baltic market, with a combined value of €112 million. Of these, 7 corporate bonds were issued in Lithuania, amounting to more than €42 million, while Latvia saw 2 corporate issues worth €63 million, and one corporate bond issue took place in Estonia, worth €6 million.

Currently, there are 4 bond offerings from Estonian companies (Invego Latvia, Everaus, IuteCredit Finance, and Eesti Energia), 3 from Lithuanian companies (S3 Business, Sostinės Bokštai, and Vli Timber), and 2 from Latvian companies (PN Project and Rīgas ūdens).

“In the past couple of years, we have observed exceptional activity in raising funds through bonds in Estonia, Latvia, and Lithuania. This shows, on one hand, that Baltic companies are increasingly aware of the opportunities offered by bonds as a source of financing, and on the other hand, the growth in investor awareness of bonds as an investment instrument. The growth of the bond market has certainly been aided by the change a few years ago in the world of extremely low interest rates that lasted for nearly ten years,” said Kaarel Ots, Head of Nasdaq Baltic Exchanges.

The most active participants in the bond issuance process are currently Artea Bank, LHV Pank, Orion Securities, and Signet Bank. Brokers organizing bond auctions on the Nasdaq platform help clients acquire securities through public offerings, establishing prices through a transparent and competitive process. This ensures a reliable environment for both issuers and investors for capital raising and investment.

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