Published: 2020-01-15 07:50:25 CET
Other information disclosed according to the rules of the Exchange

Latvenergo AS concludes loan agreement with SEB banka AS

Riga, 2020-01-15 07:50 CET -- On 14 January 2020 Latvenergo AS signed a loan agreement with SEB banka AS for EUR 60 million and with a repayment term up to 2 years.

For the conclusion of the loan agreements the procurement procedure was organized, in the result of which the winners were SEB banka AS for the above-mentioned loan amount and OP Corporate Bank plc Latvia branch for EUR 15 million with which the loan agreement was concluded at the end of last year.

Latvenergo AS raises capital on a planned and 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 an investment grade credit rating of Baa2 with a stable outlook confirming stability and the solid financial performance of Latvenergo Group. 

Additional information:
Jānis Irbe
Group Treasurer
Phone: +371 67 728 239

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, electricity distribution services and lease of transmission system assets. 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 seven subsidiaries - Latvijas elektriskie tīkli AS (lease of transmission system assets), 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.