Ural Vagon Zavod Gets State Guarantees

18 January 2017 (13:48)

UrBC, Yekaterinburg, January 18, 2017. Ural Vagon Zavod Corporation was given state guarantees (25.7bn RUR) to help refinance the company’s head plant’s current debts as well as those of its member enterprises ChTZ Uraltrac and Uraltransmash, the corporation’s press service reports.

The state guarantee agreements were signed on December 30, 2016; it took the parties involved eight months to coordinate all the technicalities.

The state guarantees were provided in part as security for the loans issued by Gazprombank to help ChTZ Uraltrac and Uraltransmash pay off their principal debt to Alfa Bank as part of their claim settlement agreements.

‘The loans Ural Vagon Zavod Corporation was issued earlier for performance-supporting purposes will get refinanced with state guarantee collateral by the corporation’s key financial partners Gazprombank, Yugra Bank, and Bank VTB,’ the press service says.

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