AS Tallinna Vesi and Nordic Investment Bank signed a loan agreement
09 Juin 2023 - 1:28PM
AS Tallinna Vesi and Nordic Investment Bank signed a loan agreement
AS Tallinna Vesi and Nordic Investment Bank
signed a loan
agreement for EUR
40 million. The
loan maturity is
on 09.06.2038 and the
loan can be
drawn down until
09.06.2024.
The loan agreement is the second half of a financing structure,
the first half of which was a syndicated loan agreement signed on
15 May 2023. See Company´s announcement on May 15, 2023.
The loan agreements of AS Tallinna Vesi are concluded on a
variable interest rate basis based on Euribor. The Company assesses
the risks associated with variable interest rates and hedging
opportunities on an ongoing basis. The new agreements will increase
the average interest rate level of the loan portfolio by 31 basis
points. Further changes depend on changes in the base rate and the
share of loans drawn down.
The signed loan agreements will finance the Company's
investments in the period 2023-2025. Tallinna Vesi's investments
will amount to EUR 35 million in 2023 and are in line with the
company's strategy and the objectives of the city's water and
wastewater development plan. The major projects in 2023 include the
reconstruction of the wastewater treatment plant's methane tanks,
the construction of a combined heat and power plant, the
reconstruction of the water treatment plant's filters and
clarifiers, and investments in the reconstruction and construction
of pipelines.
Maria Tiidus
Head of Communications
Tallinna Vesi
(+372) 62 62 271
maria.tiidus@tvesi.ee
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