ChTPZ Gets Loans Refinanced

23 January 2017 (14:08)

UrBC, Yekaterinburg, January 23, 2017. Russia’s leading pipe manufacturer and integrated solutions supplier for O&G companies Chelyabinsk Tube Rolling Plant (ChTPZ) reports its 2012 syndicated loans (80bn RUR all in all) were recently redeemed ahead of schedule, the plant’s press service says.

The loans got refinanced through funds obtained from Bank VTB, Gazprombank, and Sberbank in December 2016.

The new loans were issued to the plant on better terms, which meant ChTPZ was able to ease its financial burden and come up with a more convenient principal debt payout schedule. The guarantee provided by Russia’s Finance Ministry in 2012 as collateral for the syndicated loans will be paid back ahead of schedule.

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