Latvenergo Group finances its capital expenditures programme partly from owned funds and partly from borrowed capital. Latvenergo Group regularly sources borrowed capital to ensure the required funding for several year investment programme in a timely manner, thus establishing successful long-term cooperation with local commercial banks as well as international financial institutions. To diversify the sources of funding, Latvenergo AS has issued bonds, accounting for 28% of the total borrowings as of 30.06.2017.
Latvenergo Group borrowings by categories of lenders (30.06.2017)
Latvenergo Group debt repayment schedule (30.06.2017)
|Share of fixed interest rate (with interest rate swaps)||67%|
In order to maintain a stable level of liquidity, the Latvenergo Group ensures a constant cash flow and maintains additional liquidity reserves.
|Liquid assets (cash and short term bank deposits with maturity up to 3 months)||MEUR||181|
|Committed long-term loans||MEUR||235|
|Investment in liquid financial assets||MEUR||17|
|Additional liquidity reserves||MEUR||252|