OREANDA-NEWS. April 10, 2008. The Bank of Moscow has joined a syndicate to arrange a loan for OAO the Mezhregionalnaya Raspredelitelnaya Setevaya Kompaniya Tsentra (MRSK Tsentra) (the Inter-regional Distribution Grid of the Center) (IDGC). The combined loan attracted for the IDGC amounted to 10.5bn roubles.

"The loan is offered at an average interest rate ranging from 10 to 12.5 per cent," Financial Director at the IDGC Vladislav Kapitonov noted. "The loans have been attracted for the terms of 60 days to 5 years."

The borrowed funds are to be used to finance the Company’s production, operations and investment transactions in strict compliance with the IDGC’s 2008 business plan.

"Fund arranging in the interests of power companies is a priority focus of The Bank of Moscow’s corporate business," General Director of the Department for Corporate and Investment Banking Igor Dubonosov says. "The co-operation between The Bank of Moscow and the IDGC will not be limited to lending; the Bank has suggested that the IDGC consider a number of innovative solutions to arranging funds for the company’s investment programme, and hopes to make use of the Bank’s entire experience and potential to meet the requirements of the IDGC."