Sviaz-Bank, TransFin-M Sign Agreement for Credit Line of 2 bn Rubles
OREANDA-NEWS. November 08, 2013. Sviaz-Bank and TransFin-M leasing company have entered into an agreement on a credit line to be opened to the company. The Bank will give 2 billion rubles to the company under the credit line to be drawn down over five years.
The borrower will use the funds it will receive under the credit line to refinance its current leasing contracts and to launch new projects.
“We hope that the funds provided by the Bank will enable the company to expand the range of services it has on offer, develop new market segments, and ultimately projects like this one will stimulate leasing market development in Russia,” said Sergey Volokhov, Vice Chairman of Sviaz-Bank’s Management Board.
“We are vigorously cooperating with Russian banks today in an effort to channel funds into the railroad industry. This is our first experience in borrowing through cooperation with Sviaz-Bank and we hope to keep it on in the very short run,” said Dmitry Zotov, General Director of TransFin-M.
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