RLPC-Russia's MOESK signs increased $370 mln loan -banker

LONDON, July 23 (Reuters) - Russian power distributor Moscow Regional Power Grid Company (MOESK) (MSRS.MM) has signed a debut $370 million, two-year syndicated term loan, which was increased from $300 million after an oversubscription, a banking source said.

As previously reported, the loan was originally increased to $360 million and was scheduled to sign at the end of June, but a late commitment was accepted, so signing was pushed back to mid-July, and the final amount was bumped up by $10 million.

The deal pays a margin of 250 basis points (bps) over LIBOR and will be used to finance the borrower's 2008 investment programme.

Barclays Capital, BNP Paribas and ING were appointed as bookrunners to arrange the facility.

MOESK, rated Ba2 by Moody's, is owned by Russia's former electricity monopoly Unified Energy System (UES) EESR.MM. (Reporting by Christopher Mangham, editing by Will Waterman)