MOSCOW, February 18 (RIA Novosti) - The Moscow-based TransCreditBank has received a fifty million US dollar loan from a Western banking syndicate to fund foreign-trade projects by the Russian bank's clients. A relevant contract was signed in Moscow today, report TransCredit PR.
The loan has spectacularly exceeded $30 million, for which the bank initially applied. The term is 364 days, with prolongation prospects, and interest at LIBOR + 3% annually.
Arranged by Raiffeisen Zentralbank Osterreich AG and its Moscow branch, the syndicate involves 16 European-based banks.
The loan will finance transport and transport-engineering investment projects, says the TransCredit press service.
As for credit guarantees, the bank PR said they never offer related information.
Established in November 1992, the TransCredit is principal bank for Russian Rail Co. It serves Russian railroads, rail transport offices and industrial companies, their corporate partners and contracting parties.
