OREANDA-NEWS. Extraordinary shareholders' meeting of KAMAZ approved an agreement to provide state guarantees for bond issues in the amount of 35 billion Rubles between the Finance Ministry, VEB and the company.

According to the agency "Interfax", the government will provide KAMAZ 35 billion Rubles of state guarantees for 15 years. State guarantees will be provided as corporate bonds. In October of 2013, the former Chief Financial Officer, Elena Milinova, said that KAMAZ plans to place ruble bonds for 35 billion Rubles in 2014-2016. According to her, the bonds will have a maturity period 10-15 years, the rate of placement may be at the level of public debt bonds placement rate plus 1.5%, the bond will be market, their rate may be fixed or variable.

The shareholders also approved the involvement of the VTB loan in the amount of 1.6 billion Rubles under the state guarantees. They are available for the full amount of the loan. The loan rate will be 9.75%, funds will b attracted until December 31st, 2018.