OREANDA-NEWS. November 30, 2012. Within the framework of the established credit facility the Bank of Moscow has financed ОАО the Autonomous Heat Power Company (ATEK) to the amount of 1.6 billion RUR. The credit has been extended for the term of 3 years. The funds have been granted for the purpose of refinancing the debts due to commercial banks and financing capital costs.

ОАО ATEK is a major operator generating and transmitting heat to industrial and municipal enterprises and to the population of a number of municipalities located in the Krasnodar Territory such as Krasnodar, Novorossiysk, Abinsk, Maykop. The company operates boiler stations and heat networks, makes current repairs and overhauls of the serviced equipment and is the key supplier of heat power in the territory.

"The Bank of Moscow has gained much experience in working with municipal enterprises of Moscow and the Moscow Area, and today we are expanding said experience beyond the limits of the capital region. The OAO ATEK deal actually confirms that we are ready to work with major regional projects in the sphere of housing and public utilities", comments Eugeny Monin, Head of the Regional Business Development Directorate of the Bank of Moscow.