EPSO-G will refinance short term Amber Grid financial debt
AB Amber Grid, legal entity code: 303090867, address: Laisvės pr. 10, LT-04215 Vilnius, Lithuania.
AB Amber Grid and its largest shareholder, UAB EPSO-G, have signed an agreement under which the previously granted 12-month short-term loan of EUR 50 million will be replaced by a long-term loan with a maturity of 5 years. The entire long-term loan will be repaid at the end of the term.
The borrowing requirement was driven by investments in long-term assets and a EUR 28.8 million payment to Polish gas transmission system operator GAZ-System for the GIPL gas pipeline infrastructure. This payment is related to cross-border cost allocation (CBCA) under the European Union mechanism, which aims to fairly allocate infrastructure investment costs among beneficiary countries. This payment reflects Amber Grid's financial obligations under the aforementioned EU mechanism.
The reclassification of the loan to long-term will have a positive impact on Amber Grid's short-term liquidity ratios.
The individual authorised by AB Amber Grid (the issuer) to provide additional information on the material event:
Dovilė Binkevičienė, Communications project manager,
+370 646 08174,
