VTB Bank has extended a RUB 3.425 billion loan to Mariysky NPZ Ltd. for a three-year period. The funds will be channeled into refinancing the expenses for offering the second bond issue by Mariysky NPZ Ltd. – Finance, and refinancing the debt to other credit institutions.
This deal has become the first important step to develop cooperation between VTB and the refinery enterprise. At present, the Bank has set a RUB 5.495 billion credit limit. VTB considers an opportunity for further financing investment project to develop Mariysky NPZ Ltd., and current activity of the enterprise.
For reference: Mariysky oil refinery, established in 1995, is fit with modern equipment. The Plant produces straight-run petrol, diesel and marine fuels, black oil fuel and other oil products. The Plant capacity of oil refining is 1450 tonne a year. Mariysky NPZ is one of the largest enterprises in the Republic of Marij El.