Power company Electrica will lend RON 520 million (over EUR 111 million) to three of its subsidiaries operating in the electricity distribution segment. The funding will be used for investments.
The loans will be granted to Societatea de Distribuție a Energiei Electrice „Muntenia Nord” SA (SDMN), Societatea de Distribuție a Energiei Electrice „Transilvania Nord” SA (SDTN) and Societatea de Distribuție a Energiei Electrice „Transilvania Sud” SA (SDTS), affiliates, where Electrica is the main shareholder.
Muntenia Nord branch will get RON 230 million, while Transilvania Nord will receive RON 160 million. Meanwhile, Transilvania Sud will receive RON 130 million in funding, according to a statement submitted to the Bucharest Stock Exchange.
The expiry date of the loans is April 4 2025.