Source Pravda.Ru

ALROSA receives $60bn syndicated loan

The ALROSA company has received a $60bn syndicated loan. The term of the loan is two years, Vladimir Kalitin, head of ALROSA, announced after the signing of the loan agreement. Most of these funds will be provided by the Vneshtorgbank Group. The co-organizers of the loan were Gazprombank and the International Investment Bank, and the lead managers were Donaubank AG (Vienna) and East-West United Bank SA (Luxemburg). The Bank of Moscow also took part in the deal.

Kalitin reported that the loan would be used for financing of mining and export or raw diamonds. According to him, the terms of the loan are "rather acceptable." The loan interest rate is LIBOR+8.5%. The company's products are a collateral for the loan.

Vneshtorgbank President Andrei Kostin pointed out that the bank would continue efforts to attract conditional loans. He did not rule out that some of these loans would be granted to ALROSA. Possibly, the bank will sign a memorandum on future cooperation with that company.

According to Kalitin, ALROSA is making efforts to "make borrowed funds cheaper and to extend the repayment period." The total amount of the company's investment projects is $3.2bn. These projects are to be implemented within 5 years. Kalitin pointed out that for the first time, funds for the implementation of investment projects had been obtained in the form of commodity loans. Answering the question of the ratio between the equity and borrowed funds, Kalitin reported that the equity was $800m.

©

&to=http://www.alrosa.ru/' target=_blank>ALROSA

&to=http://www.eng.vtb.ru/' target=_blank>VNESHTORGBANK

The US is going to ban exports of Iranian oil to the world market from November 5 of this year. In turn, Iran threatens to block the passage of oil tankers of the Gulf countries through the Strait of Hormuz

Will Iran close the Strait of Hormuz to trigger global oil crisis?

The US is going to ban exports of Iranian oil to the world market from November 5 of this year. In turn, Iran threatens to block the passage of oil tankers of the Gulf countries through the Strait of Hormuz

Will Iran close the Strait of Hormuz to trigger global oil crisis?

China has allocated $20 billion to restore economies of the Arab states. In addition, China and the Arab countries will create an inter-bank association worth three billion dollars

China weaves financial web to oust Russia and USA from Middle East
Comments
Palestine's Mahmoud Abbas comes to Moscow, complains to Putin of Israel
Russian Defense Minister speaks about war with Ukraine, US and fight for Crimea
France thrashes Croatia to win FIFA 2018
France thrashes Croatia to win FIFA 2018
Can USA and Russia reset their relationship in Helsinki or is it a waste of time?
Lightning strikes tree under which five people were hiding from heavy rain
The Future of NATO
The Future of NATO
Will Iran close the Strait of Hormuz to trigger global oil crisis?
What does Theresa May have under her armpits?
Will Iran close the Strait of Hormuz to trigger global oil crisis?
France thrashes Croatia to win FIFA 2018
Will Iran close the Strait of Hormuz to trigger global oil crisis?
Palestine's Mahmoud Abbas comes to Moscow, complains to Putin of Israel
France thrashes Croatia to win FIFA 2018
France thrashes Croatia to win FIFA 2018
Palestine's Mahmoud Abbas comes to Moscow, complains to Putin of Israel
China makes serious preparations for hot war with USA
Russian Defense Minister speaks about war with Ukraine, US and fight for Crimea
Russian Defense Minister speaks about war with Ukraine, US and fight for Crimea
Croatian footballers glorify Ukraine after defeating Russia. Scandal out of nothing?