JSC Latvenergo has signed two short-term loan provision contracts to secure current assets and maintain liquidity. The loan amounts reach EUR 90 million, as the company informed Nasdaq Riga.
Latvenergo and OP Corporate Bank plc in Latvia have signed a short-term loan contract worth EUR 60 million and a loan contract with SEB Bank worth EUR 30 million. The term of both loan contracts is two years.
A procurement was organized for short-term loan contracts.
Company representatives also note that Latvenergo organizes capital attraction in a regular manner, allocating financing for capital investments and liquidity in advance.
The turnover of Latvenergo in nine months of 2021 was EUR 659.543 million, up by 16.9% YoY. The group’s profits decreased 3.6-fold, to EUR 26.403 million.
Latvenergo is engaged in production and trade of electrical and heating energy, as well as natural gas trade and electricity transmission services. Latvenergo is owned by the Latvian state. (BNN/Business World Magazine)
