The Government of Serbia has proposed a law giving a guarantee to Komercijalna Banka, OTP Bank, Vojvodjanska Bank and Sberbank for a loan to be taken by the Public Company “Srbijagas”. The purpose of borrowing is to build a gas pipeline from the border with Bulgaria to the border with Hungary and other neighboring countries.
The total amount of the guarantee is 55 million euros, and the money from the loan will be invested, as it was emphasized in the capital of the joint stock company “South stream Serbia”, registered in Switzerland.
Srbijagas will borrow up to 10 million euros from Komercijalna Banka, while loans from OTP Bank will amount to 20 million euros.
Vojvodjanska banka a.d. Novi Sad will approve a loan of 15 million euros, and Sberbank in the amount of 10 million euros. All amounts, as noted, will be increased by the agreed interest rates.
LOAN CONDITIONS
Komercijalna banka offers a nominal interest rate that is variable and amounts to a three-month Euribor plus an annual interest margin of 2.12 percent.
OTP banka and Vojvodjanska banka a. d. they offered a nominal interest rate that is variable and amounts to a three-month Euribor with an interest margin of 2.34 percent per annum.
Sberbank offers a nominal interest rate that is variable and amounts to three-month Euribor, with an interest margin of 2.30 percent per annum.
The loan will be repaid in dinars, and the amount will be indexed according to the value of the euro.
The loan period is six years, including a grace period of two years, and the withdrawal of funds in one or more tranches, while the repayment will be made quarterly.
As it is emphasized, funds in the budget of the Republic of Serbia will be provided for the implementation of the law on these loans, Nova Ekonomija reports.
