Transelectrica takes out RON 125 mln loan from Citibank

State-owned grid operator Transelectrica has taken out a RON 125 million (EUR 28 million) loan from the domestic subsidiary of Citibank to cover payments for the bonus scheme for high efficiency cogeneration power production.

The loan has a 5 month maturity and is guaranteed by present and future liability takeovers stemming from the contract of Translectrica and contributors for high efficiency cogeneration.

Transelectrica shares gained 2.53 percent to RON 12.54 on Thursday trading.  The grid operator had a market capitalization of RON 896.5 million (around EUR 200.8 million) on the Bucharest Stock Exchange (BSE).

Ovidiu Posirca

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