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On raising by Vnesheconombank of credit resources within the framework of a project implemented by the Bryansk meat company ltd.

16 august 2011 года
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State corporation “Bank for Development and Foreign Economic Affairs (Vnesheconombank)”, HSBC Bank Plc (HSBC) and Australia’s Export Finance and Insurance Corporation signed an individual loan agreement to finance Stage I of a project for construction of a complex to raise highly productive beef cattle stock and primarily process meat in the Bryansk Region. The project is implemented by the Bryansk Meat Company (Ltd.)

In compliance with the document signed, HSBC is to provide Vnesheconombank with credit resources in the amount of USD 39.7 million to finance in 2011 contracts between the Bryansk Meat Company (Ltd.) with a number of Australian beef cattle exporters under the cover offered by EFIC (9.5-year tenor).

Furthermore, Vnesheconombank and HSBC signed an individual loan agreement on raising a commercial loan within the project in the amount of USD 49.6 million (7-year tenor) to finance local expenses in 2011.

On behalf of Vnesheconombank, the documents were signed by Petr Fradkov, Member of the Board – Deputy Chairman of Vnesheconombank, on behalf of HSBC – by Peter Luketa, Global Head of Export Credit and Global Specialized Finance HSBC Bank Plc, London, on the part of EFIC – by Colin George, Director, Trade, Commodity & Agribusiness Finance.

HSBC Bank Plc (HSBC) is part of the HSBC Group, which is a holding company comprising banks, insurance and investment structures. In Great Britain, HSBC ranks 2nd in terms of the total assets. The HSBC Group has an extensive network of branches and subsidiaries abroad, including OOO HSBC Bank (RR). In Russia, HSBC offers a wide range of corporate and investment banking products to companies and financial institutions.

Export Finance and Insurance Corporation (EFIC) is Australia’s  export credit agency, whose major goal is to  support  Australian businesses with financial solutions to overcome financial barriers they may experience when growing their business in global markets.

 

Press Office of Vnesheconombank
Contact person: Ekaterina Karasina
Phone: +7 (495) 608-46-93, Fax: +7 (499) 975-21-34
E-mail: press@veb.ru

 
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