January 6 (SeeNews) - Serbia's government is awaiting parliament approval to issue guarantees for a 125 million euro ($131.6 million) loan in favour of natural gas monopoly Srbijagas, to be used to pay for emergency gas imports, according to a draft bill now before parliament.
The lenders are NLB Komercijalna Banka [BEL:KMBN], UniCredit Bank and AIK Banka Beograd, the draft bill posted last week on the parliament's website showed.
The loan will be used to cover state-owned Srbijagas' expenses for emergency imports for which it cannot provide the necessary funds from its current liquidity, as they are generally paid in advance, and the market price is higher due to the ongoing energy crisis.
Loans to Srbijagas will be lent at interest rates equal to three-month Euribor plus a fixed annual margin ranging from 5.25% to 5.50%, for terms of five years, including a grace period of twelve months. The financing will be withdrawn in one or more tranches and the debt will be repaid quarterly.
$ = 0.9500 euro
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