PJSC Oschadbank will open a renewable credit facility with a limit of UAH 364 million, and an overdraft credit with a limit of UAH 50 million with power generating company PJSC Centrenergo.

According to a report posted on the Public Procurement portal, the parties signed agreements on February 13, 2015.

The funds will be raised for one year, the cost of servicing the UAH 364 million line will be UAH 80.08 million (excluding VAT), the UAH 50 million overdraft - UAH 11 million (excluding VAT).

Centrenergo operates the Vuhlehirska, Zmiyivska and Trypilska thermal power plants, which have a total installed capacity of 7.550 gigawatts. The state owns a 78.3% stake in the company through national JSC Energy Company of Ukraine.

Oschadbank was founded in 1991. Its sole owner is the state.

Oschadbank ranked third among 166 Ukrainian banks in terms of total assets (UAH 13.682 billion) on October 1, 2014, according to the NBU.