China's ICBC Bank Offering Loan to Bulgarian Energy Holding

Business » ENERGY | October 7, 2015, Wednesday // 12:06| Views: | Comments: 3
  • Send to Kindle
Bulgaria: China's ICBC Bank Offering Loan to Bulgarian Energy Holding File photo

The Industrial and Commercial Bank of China (ICBC) is likely to become the single company to make a binding offer th the Bulgarian Energy Holding (BEH) as the energy structure is looking for a loan of EUR 650 M to pay off debts.

Capital Daily reports, citing its own sources, that ICBC, one of the world's biggest lenders, will be the only one admitted into the next stage where it will be able to place an offer, even though there was also a second candidate.

BEH, a structure managing state-owned assets in the energy sector, is now committed to make the payments under a deal with the AES and ContourGlobal thermal power plants which was reached in the spring. Out of the five-year, EUR 650 M loan, some EUR 450 M will be earmarked for debts to the two companies.

The holding's majority owner is the state, whose share exceeds 50 percent.

Separately, BEH has launched a procedure looking for bridge financing in which 11 of the 20 candidates are expected to be shortlisted.

It had made similar steps in 2013 to secure EUR 500 M in funding, but the sole bidder, Deutsche Bank, was later disqualified.

Energy » Be a reporter: Write and send your article
Tags: Bulgarian Energy Holding, BEH, Industrial and Commercial Bank of China, ICBC, AES, ContourGlobal
Advertisement All Are Welcome! Join Now!
Please, log in to post a comment.
» To the forumComments (3)
Ivailo Ivanov - 9 Oct 2015 // 11:27:50

the problems of our energy sectors were 100%, completely, entirely created by EU pressure and EU lack of responsible behavior..
I doubt that this type of politics can continue for ever.

Ivailo Ivanov - 9 Oct 2015 // 11:23:56

I personally believe that this EU have to disappear.. it is damaged beyond repair..

Ivailo Ivanov - 9 Oct 2015 // 11:22:33

There are two types of economic activity. One is the activity of hard work and creation the other is the activity of deceit, looting, robbing and destruction. Both are real and exist together. Th EU is hijacked and captured by the second type .. EU now institutionalize robbery, deceit and injustice.. that is why it has no future... the sooner it dies the better.. and it will die.. . too many predators and too little meet..I expect slow decomposition violence separation and bloody conflicts..

Bulgaria news (Sofia News Agency - is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." (Sofia News Agency - and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria