Three bids selected for Termoelectrica loan

Bids submitted by ING Bank, the consortium made up of Citibank and Deutsche Bank, and the consortium comprising Raiffeisen, Alpha Bank and Calyon, have been short-listed for the tender involving the granting of a 190 million euro-loan to Termoelectrica, sources close to the deal told Ziarul Financiar. The big investment banks are particularly interested in granting this financing to the Romanian company, which is facing an extremely difficult situation, because the states is offering full guarantees for the loan. The winner of the tender was to be designated yesterday from among the three, according to the above-quoted sources. The thermal and electrical power producer received financing offers from eight banks and banking consortia. Termoelectrica is seeking a loan-reimbursement term of five years, with a two-year period of grace. ZF