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Funding

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)

All of the Group borrowings are denominated in EUR currency.
 
  30.06.2017
Share of fixed interest rate (with interest rate swaps) 67%
Duration 2.1 years

 

Liquidity

In order to maintain a stable level of liquidity, the Latvenergo Group ensures a constant cash flow and maintains additional liquidity reserves.

  UNIT 30.06.2017
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
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