Rīgas ūdens bond issue

About the Company

Rīgas ūdens is the largest water utility company in Latvia, providing essential water supply and wastewater services to around 600,000 residents in Riga and its surrounding area.

The Company was founded in 1991, with roots going back to 1620 when it first began supplying water to Riga’s population. Rīgas ūdens employs 767 people, with an average tenure of 12.8 years, supported by an experienced management team that ensures stable operations and long-term institutional expertise.

The Company operates an extensive infrastructure network of around 2,818 km across Riga and its nearby area. Annually, the Company processes around 36.6m m³ of drinking water and treats approximately 51.3m m³ of wastewater.

Company is fully owned by the Riga City Municipality, which holds 100% of the company’s capital shares.

On June 2024 Rīgas ūdens received an A3 rating with a stable outlook from Moody’s. The rating reflects the issuer’s creditworthiness and its dependence on government support.

In 2024, Rīgas ūdens generated revenue of EUR 76.3m, in line with the previous year. The income mix remained stable, with water supply services contributing 47% of total revenue, sewer services 49%, and other sources 4%.

Bond issuance proceeds will finance fully taxonomy-aligned projects, including sustainable wastewater management, water supply efficiency, renewable energy production, and energy efficiency upgrades.

Additional information:

https://www.rigasudens.lv/en/investors/bond-offering

https://signetbank.com/wp-content/uploads/2025/05/Rigas-udens-teaser-ENG.pdf

Term Sheet