Hidroelectrica Borrows EUR60 Million From Private Bank

Published: 27-Nov-2009

S.C. Hidroelectrica S.A. (Hidroelectrica) has borrowed EUR60 million from a private bank and is in further talks for another three loan facilities of EUR30.70 million and EUR135 million, Wall Street reported. The company did not disclose the name of the banks. Hidroelectrica is in discussions with other banks for the additional financing of up to EUR300 million.

Hidroelectrica Managing Director Mihai David said: “The loan arrangement has been finalized yesterday (e.n Wednesday, November 25). Half of the amount will be disbursed soon, and the remaining €30 million in the first half next year. Soon, we will conclude the other three agreements for €30 million, €70 million and the external loan of €135 million”.

In earlier 2009, Hidroelectrica has finalized two other financing arrangements for a collective amount of around EUR50 million, of which one was for EUR30 million and the other was for over EUR18.6 million.