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Rosseti North-West

September 1, 2008

“Interregional Distribution Grid Company of North-West”, Joint Stock Company chooses the banks that will grant RUR 3 billion credit

The results of the five lot competition were summed up.

IDGC of North–West summarized the results of the competition on the financial service rendering directed to the opening of renewable credit lines and credit provision for the replenishment of the circulating funds (including the maintenance of power equipment) for the needs of the company.

The winners are 3 banks that offered the most favorable conditions - "JSCB Gasprombank" (JSCCT), OJSC JSCB “ROSBANK” and JSC “Bank VTB North-West”.
It was a five lot competition for a total sum of RUR 3 billion. The term of services rendering made up18 months.

Five banks came out with the tenders: OJSC JSCB “ROSBANK”, JSCB – Bank of Moscow (OJSC), “JSCB Gasprombank” (JSCCT), BANK “ROSSIYA”, JSC “Bank VTB North-West”.

“For the first time IDGC of North –West held the open contest to attract the credit resources for such a large sum”, - noted Anna Povetkina, head of the department of the finance and corporate financing. “The attraction of the long term credit resources will help the Company to go through hard times of sales companies’ non-payments and will provide uninterrupted power supply to the consumers”, she said.

 

 

 

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