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Vnesheconombank Raises Credit from HSBC Bank Plc against Export Insurance Agency SACE SpA’s Guarantee

24 august 2011 года
#News
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State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank) signed an Agreement with HSBC Bank Plc on August 5 on raising credit resources worth 115million US dollars for a period of 7 years against a guarantee of Italy’s Export Insurance Agency SACE SpA.

The credit resources were raised to refinance the construction of the second arctic shuttle tanker under OJSC Sovcomflot’s project. This project’s implementation will help to develop Russia’s shipbuilding. Vnesheconombank’s participation in funding OJSC Sovcomflot’s project aimed at constructing and operating arctic shuttle tankers was approved by VEB’s Supervisory Board.

HSBC Bank Plc is a member of the HSBC Group which is a holding company incorporating banks, insurance and investment institutions. HSBC ranks second in terms of assets in Great Britain. HSBC Group has an extensive network of branches and subsidiaries abroad including Russia.

 

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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