Russian Inter Rao UES reviewing loan repayment terms for Electrical Networks of Armenia

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08.06.2012, 18:46

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.

Russian Inter Rao UES reviewing loan repayment terms for Electrical Networks of Armenia

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 UES. The company has about 950,000 subscribers. -0-

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