VTB Bank has issued two irrevocable guarantees totalling RUB 4.338 billion to Tyumenenergo, further expanding cooperation with one of the biggest interregional distribution grid companies.
The guarantees will become effective in March, helping the utility company to honour its commitment to purchase securities.
«VTB has a record of successful cooperation with energy companies, providing them a wide range of banking products and services. The irrevocable guarantees issued to Tyumenenergo will facilitate the company’s productive growth.»
First Deputy President and Chairman of VTB Bank Management Board
Tyumenenergo is one of Russia’s largest interregional distribution grid companies. Established on 3 May 1979, it began operations as an interregional grid in 2005. IDGC Holding became its sole owner on 1 July 2008. The utility serves an area exceeding 1.4 million square kilometres with a population of 3.5 million, covering the Tyumen Region, the Khanty-Mansi Autonomous Area (Yugra) and the Yamal-Nenets Autonomous Area.