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VTB provides financing to Vyborg Shipyard

 
2 July 2013

VTB provides financing to Vyborg Shipyard.

VTB Bank has provided financing to Vyborg Shipyard as part of the development of its further strategic cooperation with United Shipbuilding Corporation and its subsidiaries. 

VTB has set a RUB 6.2 billion letter of credit documentary limit for the shipyard. Within the limit, the bank opened several credit lines totalling RUB 4.2 billion to finance the company’s activities and refinance its debt to other banks. All deals within the limit will be secured by a guarantee of United Shipbuilding Corporation.

"The cooperation between VTB Bank and United Shipbuilding Corporation is of a systemic and long-term nature and promotes the competitiveness of Russian shipbuilding and Russia’s economy in general," said Valery Lukyanenko, a Member of VTB Bank’s Management Board.


Tags:
VTB Bank, lending

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