VTB Bank has issued a loan worth over RUB 3 billion to coal company Kuzbassrazrezugol (KZRU), part of the Ural Mining and Metals Company (UMMC). The funds will be allocated as part of a credit facility with a RUB 10 billion limit and a maturity of five years. The company will use the funds to refinance bank debt and finance its current operations.
VTB has worked with UMMC Group since 2004. VTB Bank issues loans to UMMC and also provides it with transaction products, including bank guarantees.
«Our partnership with UMMC Group is longstanding and mutually beneficial. Agreements between VTB and UMMC have allowed us to considerably increase the volume of transactions across the entire range of banking products offered by VTB».
First Deputy President and Chairman of VTB Bank Management Board