January 20 (SeeNews) - Serbia's government is seeking parliament approval to issue guarantees for a 200 million euro ($227 million) loan facility in favour of state-owned natural gas monopoly Srbijagas, to be used to repay outstanding debt on gas imports, according to a draft bill published by parliament.
The lenders are Banka Intesa Beograd, Raiffeisen Bank Beograd, Komercijalna Banka [BEL:KMBN], Sberbank Serbia, OTP Bank Serbia and Nova Ljubljanska Banka (NLB) [LSE:NLBR], the draft bill posted on the parliament's website showed on Wednesday.
The loan will be used to cover Srbijagas' expenses for the emergency imports of gas from Hungary in November when Bulgaria’s Bulgartransgaz suspended the transit of natural gas to Serbia and Hungary for three days following a pipeline rupture in its gas transmission network.
Loans to Srbijagas will be lent at interest rates equal to three-month Euribor plus a fixed annual margin ranging from 1.35% to 1.82%, for terms of two or three years, including a grace period of three months.
The financing will be withdrawn in one or more tranches and the debt will be repaid quarterly,
($ = 0.88151 euro)
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