OREANDA-NEWS. Banks VTB and VTB Europe have acted as organizers of the syndicated credit at the rate of $100 million for Joint-Stock Company "Nizhneserginski Hardware-Metal Works" (NSMMZ).

Financing is given for the term of more than three years under the rate LIBOR +3,75 % annual on the security of export proceeds under the contracts, and also the guarantee of OJSC “Maxi-Group” and the enterprise “Uralvtorchermet Ltd” being a part of the group.

The first tranche of the credit at the rate of $50 million is already given to the company by the Bank VTB Europe, the others $50 million will be given in the form of syndicated credit for conditions of its best placement.
 
NSMMZ plans to direct received means to financing of further development of manufacture and refinancing of existing credit portfolio.