SEB opens €45M credit line for Vilnius heat supplier Gijos
What's the deal? SEBDealroom has a profile for this one. Try Dealroom → has granted Gijos, Vilnius's central heating supplier, a €45 million credit line to cover working-capital needs during the heating season. The facility acts as a financial reserve, drawn on only when extra cash is needed — for example, during prolonged cold or sudden fuel-price spikes.
What does Gijos do? Formerly Vilniaus šilumos tinklaiDealroom has a profile for this one. Try Dealroom →, the company supplies heat and hot water to more than 200,000 customers in Vilnius. All its shares are owned by the Vilnius city municipality.
Why now? Last winter showed that cold-weather fuel demand can sharply raise short-term financing needs, covering both natural gas and biofuel purchases, said finance team head Mindaugas Bručkus.
He added that gas prices remain high and biofuel began rising in summer, making this season's fuel costs hard to forecast.
The bigger picture: The SEB line is a seasonal backstop, not an investment loan — it sits alongside a wider modernisation push. In June, the Nordic Investment BankDealroom has a profile for this one. Try Dealroom → signed a facility of up to €118 million for network upgrades and renewable heat generation, while the European Investment Bank approved a proposed €50 million contribution.
The signal: Together, these commitments point to major capital needs as Vilnius replaces ageing heating infrastructure and shifts toward lower-carbon production. The SEB facility matters less as a standalone round than as a cushion for a major municipal utility against winter demand and energy-price swings.
Read more: lrt.lt
Image credit: Vilniaus šilumos tinklai
