November 22 (SeeNews) - Bosnian power utility Elektroprivreda Republike Srpske plans to draw a 10 million marka ($6 million/5.1 million euro) loan to cover outstanding obligations to suppliers, local media reported on Wednesday.
On November 8, Elektroprivreda RS launched a tender for the procurement of a loan in the amount of 10 million marka and gave the banks a deadline until December 1 to submit their bids, news portal Capital.ba reported.
The company plans to pay off the loan in the next six years.
The total liabilities of ERS amounted to 349.3 million marka at the end of last year, of which 163.1 million marka in long-term liabilities and 186.2 million marka in short-term debt.
ERS is the power utility of Bosnia's Serb Republic, one of two autonomous entities that form Bosnia and Herzegovina. The other one is the Federation.
Bosnia has another two power utilities - Elektroprivreda HZHB and Elektroprivreda BiH, the largest of the three. Elektroprivreda HZHB and Elektroprivreda BiH are based in the Federation.