Enerjisa Said to Seek 750 Million-Euro Loan for Power Plant

Enerjisa Enerji Uretim AS, a Turkish electricity provider, is seeking a 750 million-euro ($994 million) loan, according to a person with knowledge of the deal.

The Istanbul-based company will use the 12-year facility to help finance the development of a 450 megawatt lignite-fired power plant and associated mine, said the person, who declined to be named because the terms are private. Syndication is due to close at the end of this month.

Enerjisa got a 12-year 700 million-euro term loan paying 225 basis points more than benchmark rates in March 2011, according to data compiled by Bloomberg. A basis point is 0.01 percentage point.

The company is owned by Vienna-based Verbund AG (VER) and Haci Omer Sabanci Holding As (SAHOL) in Istanbul. Ines Schurin, a spokeswoman for Verbund, did not respond to a phone call and e-mail seeking comment.

To contact the reporter on this story: Louise Meeson in London at lmeeson@bloomberg.net

To contact the editor responsible for this story: Faris Khan at fkhan33@bloomberg.net

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