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Sberbank to provide loan to Slovenské Elektrárne
11 Jun 2014 Flash News
Russian Sberbank will provide a loan of €870 million to Slovakia’s dominant power producer Slovenské Elektrárne (SE), for 7.5 years.
“The successful conclusion of this contract is an important milestone in boosting the company’s financial stability and support to our growth plans in the central European region," Slovenské Elektrárne CEO Luca d’Agnese said after signing the loan contract on June 10.
Such a huge loan is exceptional for this region, especially when offered by a single bank, the Sme daily commented on the step, adding for comparison that a loan of the Slovnaft oil refinery, amounting to €200 million, was rendered by eight banks in total. Sme also speculated that the money lent would go for the purchase of nuclear fuel or technologies, as well as for the completion of the Mochovce nuclear power plant, the completion of which has been protracted, making the project ever more expensive.
J&T Bank analyst Michal Šnobr opined for Sme that considering the amount of the loan, Sberbank must have got an insight into all sensitive information like plans, costs or revenues of Slovenské Elektrárne.
(Source: SITA, Sme)
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