StockMarketWire.com - Energy company AB Ignitis grupe said its UAB Ignitis approved the intention to conclude a short-term loan agreement of up to EUR 104 million with AB SEB bankas.

The loan would be used to fund the increased working capital needs of the company and its subsidiaries.

'The working capital needs formed under high natural gas and electricity market prices, financial trading and difference between actual commodities price in the market and electricity and natural gas tariffs approved for household consumers for the period of 2021,' the company said.

'Conclusion of the agreement will allow to optimise financing costs and will have no negative impact on the performance of the company,' it dded/




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