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DTEK raised EUR 416 million loan

October 19, 2012
DTEK signed an agreement for a syndicated credit line of a total amount of EUR 416 million arranged by Sberbank CIB[1], Gazprombank (Open Joint Stock Company), ING Bank NV and UniCredit Bank Austria AG. The facility has two tranches with tenors of three and five years, respectively.

Funds received from the syndicated loan will be directed to DTEK production facilities to finance modernization programs and for other purposes.

ING Bank NV acted as documentation agent and UniCredit Bank Austria AG as information agent.

"DTEK’s production facilities require modernization. It is the Company’s responsibility to ensure necessary funds are available for investment,” said Vsevolod Starukhin, DTEK’s CFO. “Taking into account the banks’ conservative policies on lending for production, this syndicated facility once again proves the effectiveness of DTEK’s management system – the transparency of our business, stability of our business processes and the reliability of our results. We are focused on long-term cooperation with banks and interested in expanding the range of financial instruments that allow us to fund the Company’s strategic projects."
Company — DTEK
  • Full name
    Donbass Fuel-Energy Company(DTEK)
  • Registration country
  • Industry