News OP Corporate Bank grants Latvijas Gāze a credit facility
“The energy sector is the driving force of the entire economy. This sector in Latvia is currently undergoing changes. The support provided by OP Corporate Bank plc will promote stable long-term development of Latvijas Gāze AS, contributing to the development of the national economy and safe supply of natural gas for our residents and businesses,” underlined Elmārs Prikšāns, Head of OP Corporate Bank plc Latvia Branch.
As already reported, in December 2016, OP Corporate Bank plc also won a tender for granting a EUR 35 million loan to Latvijas Gāze to refinance its capital investments. In compliance with the rules for opening the natural gas market, in January 2017 Latvijas Gāze AS restructured the company, and thus the rights and obligations of the loan agreement were novated in favour of its sister company Conexus Baltic Grid AS.