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.
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