Bank of Moscow Extends RUR 3 bln Credit to ZAO Investstroy-15
OREANDA-NEWS. February 22, 2012. The Bank of Moscow has extended to ZAO Investstroy-15 credit funds to a sum of RUR 3.8 bln for acquisition of real estate and other assets of subsidiaries of OAO Glavnoye Upravleniye Obustroistva Voisk. The loan matures on 31 December 2014.
Acquisition of a production complex specialising in manufacture of construction materials will allow ZAO Investstroy-15 to implement agreements concluded with OAO Glavnoye Upravleniye Obustroistva Voisk for construction of housing for military personnel and social facilities within the scope of the relevant programme of the Ministry of Defence of the Russian Federation.
In 2011, the Bank of Moscow and ZAO Investstroy-15 concluded loan agreements to an aggregate sum of over RUR 10 bln for construction of housing ordered by the Ministry of Defence of the Russian Federation, as well as construction of three sanatoria and preventive medicine centre in Anapa.
The Bank of Moscow has been actively co-operating with ZAO Investstroy-15 by providing loans since 2008 года. Over this period, the borrower has duly serviced and redeemed loans to a total of RUR 4.79 bln.