VTB flexes bilateral muscles with Gaz Group loan

Russian vehicle maker Gaz Group has signed five credit lines totalling Rb6bn ($196m) with VTB Bank. Gaz will use the five year facility to produce light commercial vehicles, buses and trucks.

  • 26 Feb 2013

It borrowed Rb2.6bn during the first six months of 2012, according to its most recent financial report. This included short term loans and non-renewable credit lines. Gaz paid margins ranging from 775bp-870bp for the loans.

Like its fellow state-owned rival Sberbank, VTB is no stranger to large bilateral ...

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