Eesti Energia plans to refinance part of debt

Monday, 07 September 2015

Estonia's state-owned energy giant Eesti Energia made on Tuesday the owners of its bonds that have repurchase deadlines in 2018 and 2020 a repurchase bid and plans to finance the transaction with a new long-term bond issue, the company announced.

The aim of the bond transaction is to reduce the Eesti Energia refinancing risk in 2018 - 2020 and to extend the deadlines for existing bonds. The transaction is conditional and depends on the bond holders' wish to sell back the bonds.

Repurchase of bonds and the issue of new bonds is organized by Deutsche Bank, Barclays and Nordea.

Eesti Energia has issued bonds at the exchange for nominal value of 700 million euros. The repayment period of 400 million euros is in 2018 and that of 300 million euros in 2020.

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