21 Oct '09
Krasnodar region energy company Kubanenergo has announced plans to take out a $260m line of credit with Sberbank.
The bank was reportedly the only bidder at an open auction, held by the company.
The funds are to be loaned for three years, the interest rate has yet to be disclosed.
Under plans, the funds are to be used to finance the company’s current operations.
Kubanenergo is a part of interregional distribution grid company MRSK South.