Ministry: Renova gets loan from Promsvyazbank on market terms - News Archive - PRIME Business News Agency - All News Politics Economy Business Wire Financial Wire Oil Gas Chemical Industry Power Industry Metals Mining Pulp Paper Agro Commodities Transport Automobile Construction Real Estate Telecommunications Engineering Hi-Tech Consumer Goods Retail Calendar Our Features Interviews Opinions Press Releases

Ministry: Renova gets loan from Promsvyazbank on market terms

MOSCOW, May 14 (PRIME) -- Russian multi-industry holding Renova, hit by the U.S. sanctions in April, received a loan from Promsvyazbank on market terms last week and will be able to take out loans at other banks at more favorable terms once its operations are normalized, the Finance Ministry said on Monday.

УLast week, Renova, hit by the U.S. sanctions, received support in the form of a loan provided on a repayable basis on Promsvyazbank line. The funds were provided on market conditions, the rate on the loan is not preferential and takes into account both the cost of the bank funding and risks accompanying such lending, including requirements for creation of reserves. Price conditions of the lending imply that once operations of these companies are normalized commercial banks will be able to offer more favorable terms,Ф the statement said.

УThus budget funds were not used for these goals.Ф

Acting Finance Minister Anton Siluanov said earlier on Monday that the government provided support to companies of Viktor Vekselberg, but declined to provide any details.


14.05.2018 19:26
Share |
To report an error select text and press Ctrl+Enter
Central Bank Official Rate
1W 1M 1Y
EUR 72.3186 +0.4817 25 may
USD 64.6106 +0.1193 25 may
Stock Market Indices
1D 1W 1M 1Y
rtsi 1279.11 +0.29 18:50 24 may
micex 2619.24 +0.02 18:50 24 may
Stock Quotes in RUR
1D 1W 1M 1Y
gazp 204.50 -2.09 18:49 24 may
lkoh 5240.00 -0.66 18:49 24 may
rosn 423.00 +1.43 18:49 24 may
sber 234.45 +2.25 18:49 24 may
MICEX Ruble Trading
1D 1W 1M 1Y
EURTD 72.1000 +0.0775 14:59 24 may
USDTD 64.8200 +0.5275 17:44 24 may