OREANDA-NEWS. Ulyanovsk branch of Sberbank of Russia will open for "UAZ" (UAZ, included in the group Sollers) two credit lines with a total limit of 2.3 billion Rubles.

As "Interfax" reported, the first credit line with a limit of 1.3 billion Rubles is a non-renewable, and it is available for reconstruction, modernization and retooling of existing production facilities, upgrading and replacement of obsolete equipment, as well as "financing of costs for the introduction of advanced techniques and technologies for the purpose of production of modern automotive technology and its components, including R & D expenditures".

Loan term - is not more than 36 months from the date of signing of the contract, the interest rate - is 11.95% per annum. Therewith, the bank has the right to increase unilaterally the interest rate on the loan agreement, including in connection with the adoption of the Bank of Russia of solutions to increase the discount rate.

The second line of credit with a limit of 1 billion Rubles is renewable and it is available to finance the current operations. Loan term - is up to 12 months from the date of signing the contract, the interest rate: 11.8% per annum with the right of bank to increase unilaterally the interest rate on the loan agreement.

Recall that UAZ passes major renovations that will enable the company to create universal production facilities, including the considering of the possibility of organizing of the production of foreign brands.