OREANDA-NEWS. Bank of Moscow signed three facility agreements with PJSC Stroytransgaz (STG) amounting to 8 billion rubles in total. Under the terms of agreements, the Bank will finance a number of FGC UES-commissioned projects of STG.

 Bank of Moscow provides the source of borrowed funds as FGC UES has a specific general contracting system where 75 % of the works total cost is paid upon the completion of construction and receipt of permits for facilities operation. The long-term loans are therefore the most reliable tools for financing the STG investment activities. STG and Bank of Moscow are partners with the common goal of building strategic cooperation with high level of trust.   

  “Cooperation with companies operating in the sphere of infrastructure construction business and representing a real sector of the economy, is a strategic business development for Bank of Moscow. The Bank has established a transparent and effective interaction system that is in demand with the market players. Eventually, the Bank became the choice of the leading Russian corporations in infrastructure construction as the reliable financial partner”, noted Igor Dubonosov, Bank of Moscow Senior Vice President.

 The lines of credit in the amount of 8 billion rubles were extended to STG based on the pre-approved term-less letter of credit for 30.5 billion rubles. 

 Owing to good financial standing and liquidity index of the company, as well as the high level of professional competence in infrastructure projects, STG has the high reliability grade due to the low risk of failure to fulfill obligations or of full or partial debt restructuring.

PJSC Bank of Moscow (www.bm.ru) – is one of the top five full-service banks in Russia, that provides a diverse range of financial services for both enterprises and private customers.

 The major shareholder of the Bank is VTB Group (95,52%). In line with the Bank’s strategy, it will be developing as an independent full-service commercial Bank within the VTB Group.

Currently, the Bank of Moscow provides services to over 100,000 corporate clients and more than 9 million private customers. Major industrial enterprises from various sectors of the economy and SMEs are among its corporate clients.