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Ukraine's Energoatom raises USD 52.5mn loan from Ukreximbank.

January 28, 2014

The Energoatom national nuclear energy generating company has raised USD 52.5mn credit facility from Ukrainian Export-Import Bank (Ukreximbank), the company said. The funds are to be attracted for the period of one year. Respective agreement was signed on January 17 . The interest rate in hryvnia is 16% per annum, and 10.7% in dollars. In November 2013 , Energoatom has attracted a revolving credit facility worth USD 50mn from Amsterdam Trade Bank N.V. ( the Netherlands ). The credit facility will be in effect for the period of two years from the date of agreement signing. The cost of the credit facility will make up USD 8.5mn (less VAT). Energoatom has posted UAH 2.2bn ( USD 275mn ) loss for Q3. In Q3, Energoatom's net revenue fell by 3.69% y/y to UAH 3.9bn. In Jan-Sep, the company reported loss of UAH 4.7bn. Its revenues declined by 6.5% y/y to UAH 12.6bn in Jan-Sep. Energoatom incurred net losses of UAH 2.7bn ( USD 338mn ) in 2012. The company sold electric energy worth UAH 22bn in 2012. Energoatom operates the Zaporizhia nuclear power plant (Zaporizhia region), the Yuzhnoukrainsk nuclear power plant (Mykolaiv region), the Rivne nuclear power plant (Rivne region), and the Khmelnytskyi nuclear power plant (Khmelnytskyi region) as well as the Tashlyk pumped-storage hydroelectric power plant (Mykolaiv region), the Oleksandrivska hydroelectric power plant (Mykolaiv region), and the Donuslav wind power station (Crimea).

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Source: IntelliNews - Weekly Reports

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