Romanian state-owned utility Transelectrica SA (TEL) secured a five-month loan valued at 125 million lei ($35 million) from Citigroup Inc. (C) to cover certain immediate funding needs, Ziarul Financiar reported.
The loan will be used as a “buffer” to balance payments for bills due in 30 days, the Bucharest-based newspaper quoted Marian Gheorghita, Transelectrica’s chief financial officer, as saying.
The costs of the loan have been included in Transelectrica’s regulated-transport tariffs, Gheorghita told Ziarul Financiar.
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