15 March, 2006

Russia: Russky Solod is provided a EUR15 mln syndicated loan

ОАО "Russky Solod", being under control of Avangard Bank, has attracted a syndicated loan facility in the amount of EUR 15 million, the Bank's press service reported on March 14, according to AK&M.

The loan, arranged by Credit Swiss and Nordkap Bank, is provided for a term of five years. The purpose of the loan is to refinance credits extended by Avangard Bank for construction of malting plant in Ostrogozhsk. This year "Russky Solod" intends to attract no less than EUR 50 million from the foreign banks.

"Russky Solod" is the biggest in Russia and one of the largest in Europe producers of light brewer's malt.

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