Published: 2022-05-13 15:00:00 CEST
Other information disclosed according to the rules of the Exchange

Latvenergo AS signs short-term loan agreements with OP Corporate Bank plc Latvia Branch and Swedbank AS

Riga, 2022-05-13 15:00 CEST -- 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.

Additional information:
Jānis Irbe
Group Treasurer
Phone: +371 29 453 897

About Latvenergo

Latvenergo Group is one of the leading energy suppliers in the Baltics operating in electricity and thermal energy generation and trade, natural gas trade and electricity distribution services. Latvenergo AS has been acknowledged as the most valuable company in Latvia for several times. International credit rating agency Moody's has assigned Latvenergo AS an investment-grade credit rating of Baa2/stable.

Latvenergo Group is comprised of the parent company Latvenergo AS (generation and trade of electricity and thermal energy, trade of natural gas) and subsidiaries - Sadales tīkls AS (electricity distribution), Elektrum Eesti OÜ (trade of electricity and natural gas in Estonia), Elektrum Lietuva UAB (trade of electricity and natural gas in Lithuania), Enerģijas publiskais tirgotājs AS (administration of mandatory electricity procurement process) and Liepājas enerģija SIA (generation and trade of thermal energy in Liepaja, electricity generation). All shares of Latvenergo AS are owned by the state and held by the Ministry of Economics of the Republic of Latvia.