Fortum’s subsidiary Uniper draws the KfW credit facility in full and requests an increase

FORTUM CORPORATION INVESTOR NEWS 29 AUGUST 2022 AT 14:11 EEST

Fortum’s subsidiary Uniper has today announced (‘ad-hoc’) that the company’s liquidity position has further deteriorated due to ongoing gas curtailments and rapidly increasing energy prices. This has again increased Uniper’s liquidity and margining requirements over the last days.

Uniper today drew down EUR 2 billion under its existing credit facility with the German state-owned KfW Bank, thereby utilising the EUR 9 billion facility in full. Furthermore, Uniper has requested an extension of the KfW credit facility by additional EUR 4 billion as the discussions with the German government and Fortum on the implementation of the company’s stabilisation package are still ongoing. As agreed by the parties of the stabilisation package, Fortum will not provide any further financing to Uniper.

Today’s release published by Uniper can be found on Uniper’s website.

Fortum Corporation

Ingela Ulfves
Vice President, Investor Relations and Financial Communications

Further information:

Investors and analysts:
Ingela Ulfves, VP, IR and Financial Communications, tel. +358 40 5151 531
Rauno Tiihonen, IR Manager, tel. +358 10 453 6150
Carlo Beck, IR Manager, tel. +49 172 751 2480

Media:
Fortum News Desk, tel. +358 40 198 2843

Fortum
Fortum and Uniper form a European energy group committed to enabling a successful transition to carbon neutrality for everyone. Our 50 gigawatts of power generating capacity, substantial gas import and storage operations, and our global energy trading business enable us to provide Europe and other regions with a reliable supply of low-carbon energy. We are already Europe’s third largest producer of CO₂-free electricity, and our growth businesses focus on clean power, low-carbon energy, and the infrastructure for tomorrow’s hydrogen economy. In addition, we design solutions that help companies and cities reduce their environmental footprint. Our 20,000 professionals and operations in 40 countries give us the skills, resources, and reach to empower the energy evolution toward a cleaner world. fortum.com; uniper.energy