Electric Networks of Armenia

HSBC’s Major Financing Marks Decade Long Cooperation with ENA

News

06.10.2017

HSBC in Armenia has provided one of its largest ever loans (EUR 55mln ) to Electric Networks of Armenia (ENA). This financing also marks ten years of cooperation between HSBC and ENA.

The deal is grounded in trust between the partner companies and their readiness to collaborate for sustaining efficient and cost-effective management of the Armenian electric system. The financing will be used to restructure ENA’s previous shareholder’s loan.

Paul Edgar, HSBC Armenia’s CEO, expressed his optimism for the potential for a strategic partnership with ENA: “Thisloan based on the trust and long-standing partnership between HSBC and ENA. This marks our commitment to contribute to investments for developing sustainable and secure energy sector in Armenia.”

This deal is the part of ENA’s larger investment scheme for ensuring long-term financial sustainability.

“The deal will have positive impact on ENA’s financial recovery. Moreover, the funds are allocated without the State's guarantee. This financing will help us have more secure, sustainable and efficient company,” Karen Harutyunyan, Genral Director of ENA noted.