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VTB to finance VEB Leasing

 
6 February 2013

VTB Bank has opened a credit line for VEB Leasing, a leader on the Russian market of leasing services.

The loan totalling RUB 7 billion has been provided for three years in three currencies – Russian roubles, US dollars and euros – and will be used to finance the company’s current operations and to refinance its debts to other creditors.

 
 
 
 
«This is the first deal signed between VTB Group and VEB Leasing which opens new horizons for successful long-term cooperation between the two companies»
Yuri Soloviev,
First Deputy President and Chairman of VTB Bank Management Board

For reference:

VEB Leasing OJSC was established in 2003 and became part of Vnesheconombank (VEB) Group in July 2008. It specialises in leasing high-tech equipment, rolling stock, aircraft, sea and river vessels, automobiles and special equipment.

Based on its performance in January-September 2012, VEB Leasing has maintained its leading position in the Russian leasing market in terms of new transactions (25% of the market) and its private loan portfolio. The company is also a leader in the leasing of railway, aviation and automobile transport.

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