Business Forum • 25 September, 2025 at 7:00 AM
State-owned nuclear power producer Nuclearelectrica has concluded two financing agreements with a syndicate led by J.P. Morgan, securing a total of €620 million.
The first agreement, valued at €540 million, is for financing the preliminary phase of the project to refurbish Unit 1 of the nuclear power plant. This loan has a four-year term with a grace period on the principal until the end of 2027. Repayments will be made in equal semi-annual installments, starting at the end of 2027 and concluding in mid-2029. The interest rate is variable, based on 6-month Euribor plus a fixed margin of 2.3%.
The second financing agreement is for €80 million, designated for the preliminary phase of the project concerning Units 3 and 4. In this instance, the company acts as a guarantor in the financing agreement between the syndicate and EnergoNuclear. This loan also has a four-year duration, with a principal grace period until October 2027.
Similar to the first loan, repayments are in equal semi-annual installments, with principal repayments starting in October 2027 and ending in June 2029. The interest rate is a variable 6-month Euribor with a fixed margin of 2.3%.
Both contracts were approved by shareholders in early September.