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EKF Danmarks Eksportkredit

EKF sets up new Government-backed guarantee scheme of DKK 125bn for players on the gas and electricity market

 

Case

EKF sets up new Government-backed guarantee scheme of DKK 125bn for players on the gas and electricity market

Accura has assisted EKF Denmark’s Export Credit Agency with the design and set-up of a Government-backed guarantee scheme of DKK 125bn for players on the gas and electricity market who may face financial difficulties and therefore need extra liquidity in connection with increasing energy prices. The guarantee has been made as the high energy prices risk contributing to gas and electricity companies facing challenges in terms of complying with already concluded contracts on gas and electricity purchases and sales.

With the new guarantee scheme, gas and electricity companies will be covered by a Government-backed guarantee for bank loans if they need to raise extra liquidity. The Danish Government provides a guarantee for 80% of new loans raised by gas and electricity companies based on increasing energy prices, whereas the banks assume the risk relating to the remaining 20%.

The scheme is administered by EKF Denmark’s Export Credit Agency on behalf of the Danish Government.  At a later time, Denmark’s Export and Investment Fund will take over the administration in connection with the merger between EKF Denmark’s Export Credit Agency, Vaekstfonden and the Danish Green Investment Fund.

For further information, please read the Danish press release from EKF Denmark’s Export Credit Agency here.