According to the Business Standard daily, Transelectrica intends to contract a new loan after taking out a five-year RON 37m loan only recently. The value of the new credit facility has not yet been established although according to CEO Mr Baicusi it will be smaller than the previous loan, which was taken out at the beginning of July. The new credit will be used to complete the energy transporter’s current investment plan. According to the CEO, Transelectrica is on schedule with its 1H09 investment plan.
Our view: Due to the small size of the loan we see the news as neutral and we do not expect any major market impact.