VTB Expands Cooperation with Obuv Rossii
OREANDA-NEWS. May 27, 2014. VTB Bank has opened a three-year RUB 1 billion revolving credit line to Obuv Rossii. The funds will be used to finance the footwear retailer’s investment in opening 120 additional stores in 2014.
In October 2013, VTB Bank and Obuv Rossii signed a loan agreement for RUB 500 million for 1.5 years. The new facility brings VTB’s total financing to Obuv Rossii to RUB 1.5 billion.
“Obuv Rossii is a fast growing business,” said Deputy President and Chairman of VTB Bank Management Board Mikhail Oseevskiy. “It has a stable financial position, and the expansion of its retail network will strengthen its foothold in Russia’s regions. The company has solid potential for further growth, which VTB will help it attain.”
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