Energomarket to raise UAH 1 bln from Oschadbank

16:55, 18.03.2015 1 min read

State enterprise Energomarket plans to raise two renewable credit facilities with a limit of UAH 500 million each from Oschadbank.

According to a company report on the Public Procurement web portal, the proposal was accepted on March 12, 2015, and it is planned to sign a contract by April 10.

The cost of servicing each line will be UAH 119 million (excluding VAT).

Credits are to be raised from April 2015 to April 2016.

Finance is traditionally attracted to ensure payments to power generation companies for them to maintain 100% payments to coal enterprises.

As reported, Energomarket in 2013 raised loans worth UAH 10 billion from Oschadbank (in 2012 – UAH 9 billion), which were used for advance payments to thermal generation companies, to accumulate fuel in warehouses, and to pay for gas.