Mosenergo shareholders approve up to 35 bln rubles in loans
MOSCOW. Oct 24 (Interfax) - The shareholders of power company Mosenergo , at an extraordinary general meeting on Monday, approved an intra-corporate loan of 10 billion rubles from Gazprom and loans totalling up to 25 billion rubles from Gazprombank , VTB and Rossiya Bank, company materials show.
The Gazprom loan will be extended for five years at 8.3% annual interest. The banks will extend non-renewable credit lines with limits up to 25 billion rubles (VTB and Gazprombank) and 10 billion rubles (Rossiya) until December 30, 2018.
The interest rates on the credit lines will be set based on competitive bids when they are drawn, but will not exceed 9.5%. The total amount drawn on the credit lines will not exceed 25 billion rubles.
Mosenergo will use the credit facilities to finance its investment program to build facilities under capacity supply agreements.
Mosenergo is building three new generating units at its power plants: two cogeneration units with capacity of 420 MW at CHPP-16 and CHPP-20 and a 220-MW cogeneration unit at CHPP-12. The company is also in the final stages of building a 65-MW gas turbine unit at CHPP-9.