OREANDA-NEWS. September 23, 2011. Sviaz-Bank has raised the limit of the revolving framework line of credit it opened to VEB-Leasing OJSC, to be drawn down until November 2015, to 8 billion rubles, reported the press-centre of Sviaz-Bank.

The company will use the borrowed funds for purposes such as financing and refinancing its lease contracts and maintaining its current operations.

“We have decided to raise the lending limits to our partner that has a good financial standing, develops vigorously, and is leader in its market, and we hope that the extra funds will help the company to sustain its high growth rates and enable it to increase the scale of its new lease transactions,” said Sergey Volokhov, Vice Chairman of Sviaz-Bank’s Management Board.

VEB-Leasing company was established in 2003, and Vnesheconombank is its majority shareholder. The company’s core operations are centered on leases of railroad rolling stock, aircraft, seagoing and river craft, high-tech equipment, automotive vehicles, and specialized equipment. VEB-Leasing’s performance in 2010 propelled the company to the forefront of its industry in the volume of new business and net lease portfolio, and it retained its leadership in key capital-intensive segments such as leasing of aircraft, railroad rolling stock, and seagoing and river craft.