On Signing Credit Agreement between Vnesheconombank and Deutsche Bank, London Branch
Vnesheconombank and Deutsche Bank, London Branch signed a credit agreement worth 16.9 million pounds to finance the Sukhoi Superjet 100 Program.
The agreement was signed by Vnesheconombank Deputy Chairman Sergey Lykov and by Deutsche Bank Vice President John Magnus.
The credit agreement provides for extending credits to Vnesheconombank for a period of 13 years against ECGD insurance coverage to finance supplies of equipment under the contract between the Sukhoi Civil Aircraft and Thales training & Simulation Ltd.
This agreement is the first one to have been made with a Russian bank against insurance coverage of the UK Export Credits Guarantee Department (ECGD) since 1998.
The agreement was signed to attract funds to build Russian regional aircraft, Sukhoi Superjet 100, and is another step taken by Vnesheconombank to support the Russian aviation industry.
A long term of the credit shows that leading European banks and export insurance agencies have high confidence in Vnesheconombank.
Origin: Press Office of Vnesheconombank
Contact person: Svetlana Nikitina
Phone: +7 (495) 208-46-93, Fax: + 7 (495) 975-21-34
E-mail: press@veb.ru
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