VTB Bank has signed two loan agreements with Academician Reshetnev Information Satellite Systems worth a total of RUB 2.5 billion and with a maturity of 14 months. The funds will be used to finance the production of GLONASS-K satellites.
GLONASS-K is a next-generation navigation satellite designed by Reshetnev Information Satellite Systems for the GLONASS radio-based satellite navigation system. It is a partial-pressure system with a longer lifespan, smaller weight and other improvements.
Financing complex and knowledge-based companies is one of VTB Bank’s strategic priorities. We have worked closely with ISS for a number of years now based on customised solutions in the interests of the company.
member of VTB Bank Management Board