Electrica Transilvania Nord contracted from BCR a credit facility worth up to 150 million RON, for 12 months, with an annual interest rate of 1%.

Attracting this working capital is needed to complete the necessary liquidity to streamline payments to suppliers and any other due liabilities, showed the branch distribution entity, subsidiary of Electrica S.A.

The credit costs 1.5 million RON, although before the negotiations started it was estimated at 2.12 million RON, equivalent to an annual interest rate of 1.41%. Related commissions will apply only in relation to how much money Electrica Transilvania Nord will use from the credit facility. The minimum amount that can be drawn is 50 million RON.

Electrica Transilvania Nord is the concessionaire of the electricity distribution network in the counties of Cluj, Bihor, Maramureș, Satu Mare, Sălaj, Bistrița-Năsăud, nearly 1.2 million consumers enjoying its services. Electrica SA holds 78% of its capital; the remaining shares are in Fondul Proprietatea’s portfolio.