Elering is planning to issue new bonds in the amount of €225 million, and to use the money raised this way to redeem bonds issued in the same amount in 2011, the maturity date of which is July 12 this year.

Issuing the new bonds will give Elering a strong financial basis for large investments planned for the coming years, including the successful realization of the Balticconnector gas pipeline to Finland and a third Estonian-Latvian electricity connection, Elering CEO Taavi Veskimägi said.

Elering's new bonds will be quoted at the London Stock Exchange, like the previous issue was as well. The nominal value of the bonds issued is €100,000 with a maturity of five years. Danske Bank and J.P. Morgan are arranging the bond issue, Elering said in its Tuesday press release.

At the end of 2017, Elering had outstanding loans in a total amount of €362 million, and equity worth €346 million. Last year the company earned a net profit of €17 million and reported a total revenue of up to €132 million.