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International Internet Magazine. Baltic States news & analytics Friday, 10.07.2020, 19:43

Estonia: Eesti Energia signs EUR 70 mln loan with EIB

BC, Tallinn, 03.06.2020.Print version
Estonian state-owned energy group Eesti Energia has signed a new loan agreement with European Investment Bank (EIB) in the amount of 70 mln euros to finance investment into the roll-out of a passive fiber access network in Estonia, informed LETA/BNS.

Maximum tenor of the debt facility is 14 years, availability period of the loan is three years. The loan will be disbursed on a needs basis during the availability period by Eesti Energia, the company said.

According to the company, Eesti Energia and the EIB share a long history of cooperation and the bank remains a lender of strategic importance to the Eesti Energia group. This is the seventh loan agreement signed between Eesti Energia and EIB since 2004. Following the latest agreement signed back in December 2019 in the amount of 175 million euros, the EIB has provided the company with some 600 million euros in loans since 2004.

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