Energoatom sends UAH 1.4 b of advance tax payments to national budget
National Nuclear Generating Company Energoatom has placed bonds worth UAH 1.7 billion and sent UAH 1.4 billion to the national budget in the form of advance tax payments, First Vice President Oleksandr Shavlakov said in Kyiv on Thursday.
"We've placed bonds worth UAH 1.7 billion. Some UAH 300 million was sent to replenish the working capital of Energoatom and the rest of the funds were sent to the national budget as advance payments," he said.
As reported, the Cabinet of Ministers in resolution No. 1062-r of December 26, 2012 ordered Energoatom to issue nominal unsecured 10-year bonds worth UAH 1.7 billion.
The interest rate on the bonds was set at no more than 18% per annum (with the company having the right to revise it from the third year of the circulation of the bonds). Interest will be paid every quarter, starting from March 2013, and the last payment on the interest rates and the bonds is scheduled for December 2022.
The funds raised from the placement of the bonds were to be sent to finance the current operations of Energoatom and replenish its working capital.
The cabinet recommended that the National Commission for Energy Regulation (NCER) foresee funds for the servicing and payment of the bonds in Energoatom's tariff.
Energoatom is the operator of all four Ukrainian-based operating nuclear power plants, which have 15 VVER reactors with an overall generating capacity of 13.835 gigawatts.
The company also operates the Tashlyk hydroelectric pumped storage power plant with a 302 MW capacity in turbine mode and Oleksandrivska hydropower plant with an 11.5 MW capacity, which together with Yuzhnoukrainsk nuclear power plant make up the South Ukrainian energy complex. Energoatom also operates the Donuzlav wind farm.