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Russian Railways takes out syndicated loan
RBC, 26.03.2008, Moscow 15:32:18.Russian Railways has raised a syndicated loan worth $1.1bn from a group of international banks, the Russian company's press office stated today. The size of the loan originally stood at $1bn, but it was increased to $1.1bn during the successful syndication. The loan was taken out in two equal tranches of $550m each, with maturity dates of three and five years and interest rates of LIBOR plus 0.55 percent and LIBOR plus 0.75 percent, respectively. A total of 14 banks participated in the deal. The funds are to be used to attain the company's goals, indicated in its approved budget and financial plan.
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