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VTB allows loan for KAMAZ
RBC, 06.10.2006, Moscow 18:43:10.Vneshtorgbank (VTB) and Moscow Narodny Bank have organized a two-currency syndicated loan for KAMAZ, the press office of Vneshtorgbank reports. The loan is being given for USD50m and EUR40m at an annual rate of LIBOR+1.5 percent. It is to be repaid in 12 months. The loan's syndication is to start in the near future. KAMAZ intends to allocate the raised funds for current development and corporate purposes. The volume of credit risks that Vneshtorgbank has accepted from car producers exceeds RUR30bn (approx. USD1.12bn), the bank's Chairman Andrei Kostin noted. The bank is planning to occupy a leading position in servicing the industry and raise its share on the market of services for car producers to 10 percent.
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