BSGV issues Ruble 280 million loan to Vyksa Steel Works

Tuesday, 20 April 2010 12:04:40 (GMT+2)

Banque Societe Generale Vostok (BSGV), the wholly-owned Russian subsidiary of French financial group Societe Generale Group, has issued a Ruble 280 million (about $9.6 million) one-year loan to Nizhny Novgorod region-based steelmaker Vyksa Steel Works (Vyksa), a subsidiary of the Russian pipe producer United Metallurgical Company (OMK).

Accordingly, the funds will be used to replenish Vyksa's working capital. The loan was secured within the framework of the agreement with BSGV for the opening of a renewable credit line for two years, the limit of which amounts to $10 million.

 previous article  /  next article