Rostov region-based Energoprom – Novocherkassk Electrode Plant (EPM-NEZ) has taken out two syndicated loans worth $10.2m and $19.5m, the plant reports.
The banks in the syndicate reportedly include Raiffeisenbank, Unicredit Bank, Bank Societe Generale Vostok and ING Bank.
The funds are loaned for up to three years, the interest rates have yet to be disclosed.
Under plans, the funds are to be used to finance the plant’s current operations and to refinance its earlier debts.
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