OREANDA-NEWS. July 10, 2013. VTB Bank has issued the third loan tranche to Acron under its three-year targeted loan programme to finance fertiliser exports for a total value of up to USD 200 million. The latest USD 50 million tranche concludes the programme. Under the previous two loans, VTB has provided USD 150 millions to Acron.

The partnership between VTB and Acron has been successfully developing since 1996. VTB also provides transaction banking services to Acron, including cash management and document operations, as well as investment products.

"Over our years of cooperation with Acron Group, it has proved itself as a quality borrower," said First Deputy President and Chairman of VTB Bank Management Board Yuri Soloviev. "Working with companies of the chemical industry is a priority for VTB Group. We are prepared to provide our partners with stable financing to help them maintain and successfully expand their business."

"VTB Group is our long-standing and reliable partner," said Acron Senior Vice President and Deputy Chairman of the Management Board Oscar Valters. "This loan programme is yet another example of our successful cooperation. The latest tranche from VTB will help us finance fertiliser exports to China, Thailand, Brazil, and the United States," added Mr Valters.