Brief: Ignitis Grupe Subsidiary Ignitis To Loan Up To EUR 104.0 Million

Ignitis Grupe AB

12/10/2021 07:14

Oct 12 (Reuters) - Ignitis Grupe AB  IGN1L.VL :
    * SAYS BOD OF  SUBSIDIARY UAB IGNITIS APPROVED  INTENTION TO
CONCLUDE SHORT-TERM LOAN OF UP TO EUR 104.0 MILLION WITH SEB
BANKAS
    * SAYS LOAN WILL BE USED TO FUND THE INCREASED WORKING
CAPITAL
NEEDS OF THE COMPANY AND ITS SUBSIDIARIES
    * IGNITIS GRUPE AB SAYS WORKING CAPITAL NEEDS FORMED UNDER
HIGH
NATURAL GAS AND ELECTRICITY MARKET PRICES
    * SAYS WORKING CAPITAL NEEDS ALSO FORMED UNDER  FINANCIAL
TRADING
AND DIFFERENCE BETWEEN ACTUAL COMMODITIES PRICE IN THE MARKET
AND ELECTRICITY AND NATURAL GAS TARIFFS
    * SAYS LOAN AGREEMENT DOES NOT INCLUDE ADDITIONAL MEASURES
ENSURING THE FULFILLMENT OF OBLIGATIONS

Source text:  ID:nGNE2L1Qlw 
Further company coverage:  IGN1L.VL 

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