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VTB Bank provides RUB 2.1 billion loan facility to Eurosib

 
29 July 2013

© eurosib.biz

VTB Bank has set a RUB 2.1 billion credit limit for Eurosib Group, one of Russia’s biggest private transport and logistics companies.

Within this limit, VTB will sign general agreements with Eurosib companies on providing banking guarantees for tax authorities and paying for services provided by Russian Railways. Guarantees totalling RUB 800 million will be provided until September 2014.

The bank previously provided Eurosib with a RUB 550 million credit limit for replenishing its working capital. The funding took the form of a non-revolving credit line for two years and a one-year overdraft facility.

In late 2012, VTB loaned RUB 778 million to Eurosib Group for five years to refinance its spending on the acquisition of railway cars.

For reference:

Eurosib Group provides comprehensive shipping and logistic services to freight owners, using its own and leased rolling stock to ship freight by rail in different areas. It also offers integrated logistic and terminal operator services. Eurosib owns and is managing a diversified fleet of 13,700 freight cars and operates two terminal and logistic centres, one in St Petersburg (Shushary) and the other in Novosibirsk.

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