German energy giant Uniper gets $11 billion to pay margin calls
German energy giant Uniper SE was forced to borrow billions to pay down margin calls — the collateral that exchanges require to back up trades — as European gas and electricity prices rallied.
Uniper got additional loans totaling 10 billion euros ($11.3 billion) from its Finnish parent Fortum Oyj and KfW IPEX-Bank, the company said in a statement after the close of trading on Tuesday. The borrowing facilities correspond to about two-thirds of the company’s market value of just over 15 billion euros.
With gas and power prices repeatedly rising to records since July, many companies that had fixed energy prices are now having to post more collateral to guarantee those trades.
