Sberbank of Russia and PSC VSMPO-AVISMA Corporation to open credit lines

Sberbank of Russia is opening for PSC VSMPO-AVISMA Corporation two nonrevolving credit lines limiting to a total of USD 165 mln for the periods of 5 and 1 year accordingly. The Russian titanium company is planning to use the facilities for financing investment outlay and re-financing debt to other banks.

Today, Sberbank of Russia is also financing VSMPO-AVISMA requirements in current capital and production upgrade.

Sberbank of Russia and VSMPO-AVISMA Corporation consider opening new credit lines as another significant step forward to support Russian non-ferrous works.