OREANDA-NEWS. The Bank of Moscow has signed with ОАО Stroytransgaz (STG) three loan agreements to the total amount of 8 billion RUR. According to the terms and conditions of the agreements the Bank will extend financing to support the implementation of a number of STG projects ordered by ОАО FSK EES (Federal Grid Company of the United Energy System).

The Bank of Moscow has become the source of financing for STG because the FSK EES works with the general contractors in accordance with a pattern according to which 75% of the total value of work is to be paid upon completion of the construction and obtaining of permits to operate the sites. Therefore long-term loans are most reliable tools to finance the investment activity of STG. STG and the Bank of Moscow are partners oriented at strategic co-operation with a high level of trust.

"For the Bank of Moscow co-operation with infrastructural construction segment companies representing the real sector of economy is a strategic direction of business development. The Bank has created a transparent and effective system of interaction which is in demand with the market players. As a result the Bank has been chosen as a reliable financial partner by the major enterprises of Russia, the leaders in the infrastructure building," commented Igor Dubonosov, Senior Vice President of the Bank of Moscow.

Credit lines to the amount of 8 billion RUR will be extended to STG on the basis of a perpetual LC limit amounting to 30.5 billion RUR approved earlier.

STG relates to a highly reliable class of borrowers with a low risk of failure to perform under their obligations, restructuring of the debt or a part thereof. The reason for this is behind a number of factors including the indicators of financial stability and liquidity of STG, and the fact that STG has a high professional level of competence contributing towards successful completion of highly complicated infrastructural projects.