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IDGC of Centre, JSC held an auction on financial services purchase for the first time

16 December 2009

Auction was held in two stages and contained four lots, including 0,8 billion rubles  — long-term credits and 0,7billion rubles — overdraft.

Eight banks, among them  — GazPromBank, JSC (GPB), Nordea Bank, JSC, Alpha-Bank, JSC, Joint-stock Commercial Bank “ROSBANK”, JSC, Savings Bank of Russia, Bank VTB, JSC, Joint-stock Commercial Bank “Svyaz-Bank”, JSC and Bank of Moscow, JSC participated in auction selling.

GPB (JSC), which offered the most attractive for the company crediting conditions, is recognized to be the winner of the auction on granting of credit lines with total limit of 0,8 billion of rubles to IDGC of Centre, JSC. The credit lines will be granted for 24 and 36 months (of 0,4 billion rubles).

Nordea Bank, JSC (limit in the amount of 0,4 billion rubles), which offered interest rate in the amount of 9 % per annum , and Alpha-Bank, JSC (limit in the amount of 0,3 billion rubles) — 8,75 % per annum were recognized to be the winners of the auction on granting of credit resources in the form of overdraft to IDGC of Centre, JSC.

Vladislav Kapitonov, the Financial Director of IDGC of Centre, JSC remarked: “Such auction is held in the Company for the first time. As a result of competitive selling the Company taking into account the consequences of financial crisis got the value optimal credit resources. Their intended use is financing of current activities of the Company, coverage of arising cash deficiencies”.

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