FORTUM CORPORATION INSIDE INFORMATION
During the early winter season, the very volatile commodity markets with unprecedentedly high prices have resulted in significantly higher margining requirements for European market participants.
To manage any further market volatility and significant price increases, Uniper has taken precautionary measures to secure additional liquidity and financial flexibility primarily for the winter season:
Fortum has provided Uniper with intra-group financing in the format of a credit facility agreement of up toEUR 8 billion on arm's length terms. This credit facility comprises two tranches: shareholder loan and parent company guarantee. To date, Uniper has used part of the facility.-
Uniper has drawn the company's existing
EUR 1.8 billion revolving credit facility in full. -
Uniper has agreed with the German state-owned KfW-Bank on a short term revolving credit facility of up to
EUR 2 billion . The facility has not been used so far.
During 2021, the European gas prices have risen up to 1,000% and have, together with power prices, been at unprecedented levels in December. Under these market conditions, Uniper's focus remains on securing reliable deliveries to its customers and honouring its commitments.
Uniper has today published a corporate release ('ad hoc') on the matter. This release can be found on Uniper's website.
Additional information
Investor and analysts:
Media:
Fortum News Desk, tel. +358 40 198 2843
About
https://news.cision.com/fortum/r/fortum-s-subsidiary-uniper-takes-precautionary-financing-measures-including-credit-facilities-from-k,c3481603
https://mb.cision.com/Main/15253/3481603/1517154.pdf
https://news.cision.com/fortum/i/fortum-sign-nature,c2997385
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