Gazprombank offers Uralmashzavod 1bn-ruble CL

20 August 2014 (13:32)

August 20, 2014. OAO Gazprombank opened a 1bn RUR credit line for OAO Uralmashzavod, the enterprise’s press service reports.

The loan amount comes to 5.68% of Uralmashzavod’s assets, and it has to be paid back by July 16, 2015. The deal was approved by the company shareholders in the course of the annual general meeting on June 25. It is not reported just how this money will be spent.

In the first half of 2014, Uralmashzavod’s net loss amounted to 854.391m RUR, (456.586m RUR in the second quarter of the year and 397.805m RUR in the first quarter).

The company’s gross profit declined down to 16.651m RUR compared with 309.434m RUR in the first half of 2013; revenue sagged down to 2,513,296,000 RUR against 3,646,333,000 RUR a year earlier.

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