EUR 35 million financing provided to Vilnius district heating networks
We have signed a EUR 35 million overdraft agreement with Vilnius district heating networks. This funding will be allocated for the company's working capital.
"In our operations, ensuring working capital is essential. Having strong and reliable partners not only ensures business continuity but also provides customers with the opportunity to settle payments for services at their convenience during challenging times. This heating season, thanks to this agreement, we welcome it with confidence," says Greta Juodziukyniene, Head of Finance at Vilnius district heating networks.
"We are pleased that the provided financing will strengthen Vilnius' strategic infrastructure company and contribute to the development and stability of businesses in the city. It's great to collaborate with the heating networks team," says Martynas Urbsys, Head of Business Clients Department at OP Corporate Bank Lithuania.
An overdraft is a convenient loan form for balancing cash flows since the surplus in the account can be used immediately when needed and interest is paid only for the period when the funds were borrowed. We provide a credit limit that is covered on the same day, assisting in making payments throughout the day from the surplus in the account, knowing that the funds will be received later in the day, covering the surplus.