Bulgaria’s Power Grid Operator to Borrow up to 250 Mln Euro

Bulgaria’s Power Grid Operator to Borrow up to 250 Mln Euro

The National Electricity Company (NEK) has launched a procedure to borrow up to 250 million euro ($327 million) to refinance a loan, outgoing economy minister Delyan Dobrev said.

"There are two options - a loan or a bond issue. Since there is not enough time for a bond to be issued, the procedure is for a credit which can be refinanced with a bond at a later stage," Capital daily quoted Dobrev as saying.

In May NEK must repay the remaining 195 million euro on a loan taken from French bank Paribas to finance a project for the construction of a nuclear power plant in Belene.

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