Krymenergo to Use USD 167 mln EBRD Loan On CapEx
29 August 2008
Yesterday, the government of Ukriane’s Crimean Republic, approved a plan to reconstruct Krymenergo’s (KREN: HOLD) power grid by 2012. The company plans to use USD 167 mln loan from the EBRD for this purpose. The EBRD is expected to make a final decision on the loan in September. According to preliminary agreements, the loan will be for 15 years, with a three-year grace period at an interest rate of LIBOR+1%.
