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AS Tallinna Vesi and Nordic Investment Bank signed a loan agreement

Written by Customer Service on . Posted in Public Companies.

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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