Inter RAO is planning to secure a credit facility worth €300 million, Reuters reports. The Russian electricity generator will use the proceeds from the loan to acquire a 73% stake in a Bulgarian power plant from Italian utility, Enel.
Inter RAO will borrow the money from Russian banks, Sberbank, Gazprombank and VTB. The company is also seeking to sell its own shares through a subsidiary over two years to repay the debts.
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