Uniper refinances and increases syndicated credit line

Uniper successfully refinanced the existing syndicated credit line from 2018 in the amount of €1.7 billion ahead of schedule. The new syndicated credit line of €3 billion is divided into two tranches and serves as a constant liquidity reserve and for the flexible financing of working capital. The credit line was concluded at standard market conditions and has a term of three years plus two extension options of a further year each.

The new credit agreement has been issued for the first time as a so-called “sustainability-linked credit”. The financing conditions are linked to the achievement of CO2 reduction targets and strategic expansion targets in renewable energies. The financing consortium, which consists of 19 international banks, is essentially made up of the existing core group of banks and was selectively strengthened by new banking partners. ING and UniCredit acted as coordinators and were also mandated as sustainability coordinators.

The early refinancing of the syndicated credit facility is a clear sign that the capital and financing market is recognizing Uniper’s regained stability and new strategic direction. With a total volume of €3 billion, Uniper has a credit line that supports the transformation of our company. For the first time, the conditions agreed with our financing partners also include elements that anchor Uniper’s ambitious climate protection targets.

About Uniper

Düsseldorf-based Uniper is an international energy company with activities in more than 40 countries. The company and its roughly 7,000 employees make an important contribution to supply security in Europe, particularly in its core markets of Germany, the United Kingdom, Sweden, and the Netherlands. 

Uniper’s operations encompass power generation in Europe, global energy trading, and a broad gas portfolio. Uniper procures gas—including liquefied natural gas (LNG)—and other energy sources on global markets. The company owns and operates gas storage facilities with a total capacity of more than 7 billion cubic meters. 

Uniper intends to be completely carbon-neutral by 2040. Uniper aims for its installed power generating capacity to be more than 80% zero-carbon by 2030. To achieve this, the company is transforming its power plants and facilities and investing in flexible, dispatchable power generating units. Uniper is already one of Europe’s largest operators of hydropower plants and is helping further expand solar and wind power, which are essential for a more sustainable and secure future. The company is progressively expanding its gas portfolio to include green gases like hydrogen and biomethane and aims to convert to these gases over the long term. 

Uniper is a reliable partner for communities, municipal utilities, and industrial enterprises for planning and implementing innovative, lower-carbon solutions on their decarbonization journey. Uniper is a hydrogen pioneer, is active worldwide along the entire hydrogen value chain, and is conducting projects to make hydrogen a mainstay of the energy supply. 

Source link:https://www.uniper.energy/