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Monday, February 17, 2020

Rosbank to lend RAO Energy System of East $83 million for fuel

Russia's Rosbank announced recently that it will extend two non-revolving credit facilities totaling $83.2 million to the Far-Eastern Generating Company, a subsidiary of RAO Energy System of the East.

The company, which produces electrical energy and provides centralized heating to the southern region of the Far East, will use the funds to purchase fuel.

It is the major provider of centralized heating in the region, with 70 percent of the market share.

Rosbank, a subsidiary of Societe Generale, is one of Russia's top largest banks.