IDGC of the North-West arranging an auction for opening credit lines amounting, in total, to over 2 bln RUB

19.10.2012

The auction includes 5 lots, amounting in total to 2043 mln RUBToday, on October 19, 2012, IDGC of the North-West, JSC has announced an open e-auction for the right to conclude contracts for provision of financial services for opening non-revolving and revolving credit lines for the Company’s needs. The auction includes 5 lots, amounting in total to 2043 mln RUB. The funds raising term is up to five years. For purposes of implementation of this year investment program of Vologdaenergo branch of IDGC of the North-West, we intend to raise 443 mln RUB (lot No1). The four lots, amounting in total to 1600 mln RUB, are intended to replenish the current assets including those to be allocated for electric equipment repairs.
“In connection with increase of the investment program of the RAB-regulated Vologdaenergo branch, we are raising additional funds which will enable us to ensure discharge of our obligations to the region consumers,” says Acting Deputy General Director for Economy and Finance of IDGC of the North-West Dmitry Guba.