MILAN (Thomson Financial) - Terna SpA said it has received a 300 million
euro loan from the European Investment Bank to help it fund the 420 kilometre
underwater power line it is planning to build between Sardinia and the Italian
mainland.
The loan will have a duration of 20 years and repayment will be paid in
regular installments made every six month starting from the fifth year.
Interest on the loan will be six-month Euribor plus 5 basis points, Terna
said.
The SA.PE.I. power line, which will have a capacity of 1,000 megawatts, will
cost an overall 700 million euros.
stephen.jewkes@thomsonreuters.com
sj/jlw
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