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Uniper Seeks to Extend KfW Credit Line Amid Bailout Talks

  • Talks with Finnish owner over bailout have proved difficult
  • Germany under pressure to hammer out deal for energy giant
Tour of Uniper SE Bierwang Natural Gas Storage Facility
Photographer: Krisztian Bocsi/Bloomberg
Updated on

Gas giant Uniper SE applied to extend the 2 billion-euro ($2 billion) credit line it has drawn from German state-owned lender KfW Group, increasing the urgency for a government bailout.

Uniper is running out of options as it has started drawing gas out of storage to sell to customers to avoid buying more expensive fuel in the spot market. The utility has asked the government for a bailout, including an equity stake and additional debt funding through an increase in a state-backed credit facility.