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International Internet Magazine. Baltic States news & analytics Wednesday, 23.09.2020, 15:52

Lithuania's ESO borrows EUR 77 mln from SEB bank

BC, Vilnius, 27.01.2017.Print version
Lithuania's electricity and natural gas distribution company Energijos Skirstymo Operatorius (Energy Distribution Operator, or ESO) operated by Lietuvos Energija (Lithuanian Energy) has borrowed 77 million euros from one of the country's largest commercial banks SEB. The money will go towards refinancing of loans and working capital, writes LETA/BNS.

"This the first 10-year loan in the company's history provided by SEB bank. The financial market continues featuring favorable conditions for borrowing, therefore, the pricing offered by SEB is competitive," said Augustas Dragunas, director of ESO Financing and Administration Service.

Up until now, ESO's biggest creditor was Finland's OP Corporate Bank, which lent 70 mln euros to Lithuania's then power distribution company Lesto for five years in October of 2015.

As of last September, ESO's loans totaled at 209.8 mln euros, including 119.1 mln euros in long-term loans.

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