Ukraine DTEK raises 416 mln euro loan

KIEV Thu Oct 18, 2012 9:24am EDT

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KIEV Oct 18 (Reuters) - Ukraine's largest private power and coal producer DTEK said on Thursday it had signed an agreement for a 416 million euro syndicated credit line to finance modernisation programmes.

The loan was arranged by Sberbank, Gazprombank , ING Bank NV and UniCredit Bank Austria AG . The facility has two tranches of three and five years, DTEK said in a statement.

DTEK, part of the empire of Ukraine's richest businessman Rinat Akhmetov, accounts for about 29 percent of the country's thermal power generation. It also controls about 46 percent of Ukraine's coal production and about 43 percent of power distribution. (Reporting by Pavel Polityuk; Editing by Hans-Juergen Peters)