Uniper Seeks 4 Billion Euros From State Lender as Liquidity Deteriorates
- Surging costs force utilities to extend more collateral
- German energy giant is losing 100 million euros a day
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German energy giant Uniper SE is seeking to extend a government credit line to 13 billion euros ($13 billion) in the latest sign of how Europe’s energy crisis is getting worse.
The utility has requested an additional 4 billion euros from Germany’s state-owned lender KfW after fully using its existing 9 billion-euro credit line, Uniper said in a statement on Monday. The additional funding request is about double the Dusseldorf-based company’s current market value.