Kyiv-based Oschadbank has opened a Hr 800 million credit line to state-run enterprise Energomarket, reads a report of the company on the government procurement portal.
The report says that the agreement was signed on Jan. 28, 2013.
The funds are taken for one year from the moment of signing the credit agreement.
The cost of servicing the line at Oschadbank will total Hr 151.5 million (value added tax included).
As reported, the funds are raised to pay to power generating companies to support 100% payments to coal companies for coal supplied.
Ownership rights under electricity sale and purchase agreements signed with power supply companies are used as collateral.
Energomarket regularly attracts credits from Oschadbank so that energy generating companies could pay for the coal supplied.
Energomarket is the operator of the Wholesale Electricity Market of Ukraine.
