Moscow, 29 December 2008. RAO Nordic Oy, INTER RAO UES trading arm based in Finland, repaid in full the loan of 40 million US dollars made available by Commerzbank (Eurasija) in March 2004.
The loan was granted for a term ending December 29, 2008 for the purpose of funding the statutory activities of RAO Nordic Oy. The cost of borrowing upon loan repayment was 3.14 % per annum.
The company did not raise funds to refinance its loan debt.
RAO Nordic Oy was formed in Finland in 2002 as a wholly-owned subsidiary company. The company is a member of Nord Pool, the Nordic Power Exchange. RAO Nordic Oy currently distributes electric power in the European power market both through Nord Pool and under bilateral contracts for the supply of electric power. In addition, the company has been trading in the Nord Pool financial sector since 2003.