Moscow Narodny Bank loans $50 million to Ilim Pulp
. Ilim Pulp Corporation, St.-Petersburg, Russia, has provided Moscow Narodny Bank, Great Britain, with new mandate on the medium-term co-loan for financing export deliveries of production of pulp-cardboard mill for $50 million on LIBOR conditions of +2,80 % per annum, company reported.
Sep 07, 2005. /Lesprom Network/. Ilim Pulp Corporation, St.-Petersburg, Russia, has provided Moscow Narodny Bank, Great Britain, with new mandate on the medium-term co-loan for financing export deliveries of production of pulp-cardboard mill for $50 million on LIBOR conditions of +2,80 % per annum, company reported.
Credit will remain in force for 40 months and will be provided by export deliveries of pulp-and-paper products to the Asian markets. Repayment will be carried out by monthly payments after a grace period (12 months).
“It is the co-loan for our third mill. The interest rate reflects adequately a current risk level of corporation", Ilim Pulp chief financial officer Alexander Emdin noted.