FORTUM CORPORATION INVESTOR NEWS 29 AUGUST 2022 AT 14:11 EEST
Fortum’s subsidiary Uniper has today announced (‘ad-hoc’) that the company’s liquidity position has further deteriorated due to ongoing gas curtailments and rapidly increasing energy prices. This has again increased Uniper’s liquidity and margining requirements over the last days.
Uniper today drew down EUR 2 billion under its existing credit facility with the German state-owned KfW Bank, thereby utilising the EUR 9 billion facility in full. Furthermore, Uniper has requested an extension of the KfW credit facility by additional EUR 4 billion as the discussions with the German government and Fortum on the implementation of the company’s stabilisation package are still ongoing. As agreed by the parties of the stabilisation package, Fortum will not provide any further financing to Uniper.
Today’s release published by Uniper can be found on Uniper’s website.
Vice President, Investor Relations and Financial Communications
Investors and analysts:
Ingela Ulfves, VP, IR and Financial Communications, tel. +358 40 5151 531
Rauno Tiihonen, IR Manager, tel. +358 10 453 6150
Carlo Beck, IR Manager, tel. +49 172 751 2480
Fortum News Desk, tel. +358 40 198 2843