Uniper Refinances Credit Facility

German energy group Uniper said September 27 it has concluded early refinancing of its existing syndicated credit facility of €2.5bn ($2.93bn) established in 2016.

The new syndicated credit facility was signed September 26 for €1.8bn ($2.1bn) with a consortium of 15 banks, slightly fewer than before, has a tenor of five years plus two options to extend the maturity by one year each, and may be increased by €0.5bn at the discretion of the banks until maturity.

CFO Christopher Delbruck said: “I am pleased about the successful early refinancing of our syndicated credit facility which provides enhanced credit terms and conditions and a high flexibility in our financing structure on a long-term basis. The transaction proves the trustful relationship with our core banking group.” Uniper is 47.12%-owned by Finnish utility Fortum.