OREANDA-NEWS. August 2, 2007. Within the framework of the project TCB arranged financing of the down-payment portion amounting to EUR 7,125 mln related to import of the continuous casting machine and rolling mill produced by STG Group S.p.A., Italy. The facility was obtained for the period of up to 3 years from the date of documentary letter of credit's issuance.

This transaction was supported by European Bank for Reconstruction and Development (EBRD). ABN AMRO Bank acts as the nominated and confirming bank.

TCB plans to organize 5-year financing of the next portion amounting to EUR 18,5 mln with the involvement of ECAs and EBRD.

TCB continues to arrange trade finance transactions aimed to support Russian companies' investment projects related to modernisation of their own capital funds and creation of new manufacturings.