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VTB to finance Information Satellite Systems

 
20 January 2015

VTB to finance Information Satellite Systems

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.

 
 
 
 
Valery Lukyanenko, member of VTB Bank Management Board
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.
Valery Lukyanenko,
member of VTB Bank Management Board
                



For reference:

The Academician Reshetnev Information Satellite Systems is a leading Russian space enterprise. It uses the latest technology and a complete production cycle, from design to satellite control in the low circular and geostationary orbits. The company has taken part in over 30 aerospace programmes, including television relay, navigation, geodesy and research, and has designed, produced and launched approximately 50 types of spacecraft.

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