Latvenergo AS signs short-term loan agreements with OP Corporate Bank plc Latvia Branch and Swedbank AS
May 13, 2022
In May this year, Latvenergo AS signed two short-term loan agreements (overdraft agreements) for working capital financing and liquidity management - with OP Corporate Bank plc Latvia Branch in the amount of EUR 100 million and with Swedbank AS in the amount of EUR 100 million. The term for both agreements is up to 2 years.
The procurement procedure was organized for the conclusion of the short-term loan agreements in which OP Corporate Bank plc Latvia Branch and Swedbank AS have been announced as the winners.
Latvenergo AS raises capital on a regular basis in order to ensure timely provision of funds for the financing of capital investments and liquidity. The international credit rating agency Moody’s has assigned Latvenergo AS the investment grade credit rating Baa2 with a stable outlook confirming stability and the solid financial performance of Latvenergo.