Serbia provides guarantees for EUR 225 million loans to Srbijagas, Galenika and Jat

The Serbian parliament issued guarantees on Saturday (29 December 2012) for EUR 225 million loans to be extended to three public companies.

Guarantees are provided for a EUR 200 million loan to Srbijagas, EUR 30 million of which will be spent on the South Stream project, whereas the rest will be used to maintain the company's current liquidity.

Serbian MPs also issued guarantees for a EUR 15 million loan to Galenika and a EUR 10 million to Jat, and these companies are going to use the proceeds of these loans to refinance their outstanding short-term liabilities.