UBRD raises MidUralGroup’s CL to $20m

October 22, 2014. The Ural Bank for Reconstruction & Development (UBRD) and Klyuchevsk Ferrous Alloys Works (a member enterprise of MidUralGroup) signed a $5m loan contract, which means the total amount of funds available through credit lines now reaches $20m. The money will be directed to financing of the company’s working capital, the bank’s press service reports.

The UBRD has been doing business with the MidUralGroup member enterprises since 2010. The group relies on the bank’s credit lines, leasing options, and guarantees to the accounts of fiscal authorities, the Federal Customs Service, and the Federal State Reserves Agency.

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