OREANDA-NEWS. TCB obtained an MLT loan facility amounting to EUR 1,2 million for financing of the transaction related to purchase of modern electric-power equipment produced by Jenbacher (Austria).

This deal has complicated and unique structure and no precedents have been seen on the Russian Trade Finance market yet. TCB financed internal deliveries made under purchase contract concluded between two Russian residents. The supplier of the equipment is a subsidiary of the Austrian producer registered in Russia, and the buyer is JSC United Leasing Company (subsidiary of TCB).

The facility was granted by Bank Austria Creditanstalt, a member of UniCredit Group, for the tenor of up to 4 years. Commercial and political risks under this transaction are covered by Austrian export credit agency OeKB. The funds were utilized exclusively for payment of 67% of the contract value.

This transaction bears evidence of that innovative tailor-made approach, which TCB use to support Russian companies' projects related to modernisation of their own capital funds and creation of new manufacturings.