Dniproenergo secures UAH 1.45 bln credit line from VTB

Dniproenergo (UX: DNEN UK, BUY) signed two credit line agreements for a total of UAH 1.45 bln from VTB Bank last Thursday, the Ministry of Economic Development announced yesterday. The first credit line of UAH 780 mln in US dollar equivalent at 10% from September 2011 through December 2016. The second credit line of UAH 673.95 mln is nominated in Russian rubles at 10.5% from September 2011 through November 2017. Dniproenergo plans to use proceeds to reoutfit its Pridniprovska and Krivorizska thermal power plants, which includes rebuilding turbine and boiler equipment.