IDGC of Centre to take out 5.4 billion rubles in five credit tranches with a term of up to 3 years from VTB and Sberbank

According to the final reports of auctions, VTB won in three lots with a total limit of 3.4 billion rubles: 2 lots of 1 billion rubles and 1 lot of 1.4 billion rubles. VTB won with an interest rate of 11.96% and 11.83% respectively. Sberbank won in two lots with a total limit of 2 billion rubles and an interest rate of 11.96% per annum. The weighted average rate to take out 5.4 billion rubles was 11.93% per annum. Moreover, under the terms of the auction, the initial (marginal) interest rate was not to exceed 13% per annum. The results of the auction indicate the company’s high solvency and stable financial condition. Attracting the largest Russian banks as creditors confirms long-term partnerships and ensures further sustainable development of the company. The borrowed funds will be used to finance activities under the Company’s Articles of Association.