RUSSIAN INTER RAO UES REVIEWING LOAN REPAYMENT TERMS FOR ELECTRICAL NETWORKS OF ARMENIA
/ARKA/
June 8, 2012
YEREVAN
YEREVAN, June 8. /ARKA/. Russian Inter RAO UES said it is reviewing the
terms of repayment of a 30 million euro loan provided to Electrical
Networks of Armenia (ENA) national power distributor. It said the
debt will be restructured to offer ENA comfortable repayment terms.
The loan agreement was signed with ENA in February 2009. In accordance
with new terms, the loan repayment period is extended until the end of
2023 instead of previous 2018. The interest rate on loans may vary,
but should not exceed 10% per annum. The loan was provided for the
modernization of power supply network in Armenia.
OAO Inter RAO UES is a Russian electricity company, controlling a
number of power generating and distribution assets in Russia and
abroad with the total installed capacity of about 28 GW.
JSC Electric Networks of Armenia is a 100% subsidiary of OAO Inter
RAO 8UES. The company has about 950,000 subscribers.
From: Emil Lazarian | Ararat NewsPress
Disclaimer: This article was contributed and translated into English by Emil Lazarian. While we strive for quality, the views and accuracy of the content remain the responsibility of the contributor. Please verify all facts independently before reposting or citing.
Direct link to this article: https://www.armenianclub.com/2012/06/09/russian-inter-rao-ues-reviewing-loan-repayment-terms-for-electrical/
