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