San Gabán secures US$5.46mn loan
Bnamericas Published: Wednesday, December 08, 2004
Peruvian bank Banco Continental has approved a 12-month, 18mn-sol (US$5.46mn) loan to power generator San Gabán at an annual interest rate of 8%, San Gabán said in a statement to the Lima stock exchange. Billing from three of San Gabán's clients is the guarantee for the loan, which the company used to pay a debt to the economy and finance ministry. Empresa de Generación Eléctrica San Gabán has the concession for the 110MW San Gabán II hydroelectric plant in southern Peru's Puno department.
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