Russia VTB says paid off $3.1 bln syndicated loan this month

MOSCOW Fri Aug 1, 2014 2:01am EDT

MOSCOW Aug 1 (Reuters) - Russia's second largest bank, VTB said on Friday it had paid off a $3.1 billion syndicated loan with its own funds earlier this month, before it was hit by Western sanctions.

"We confirm that on July 14 a syndicated loan for the amount of $3.1 billion was paid off with our own funds," it said in a statement. (Reporting by Alexander Winning, editing by Elizabeth Piper)

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

California state worker Albert Jagow (L) goes over his retirement options with Calpers Retirement Program Specialist JeanAnn Kirkpatrick at the Calpers regional office in Sacramento, California October 21, 2009. Calpers, the largest U.S. public pension fund, manages retirement benefits for more than 1.6 million people, with assets comparable in value to the entire GDP of Israel. The Calpers investment portfolio had a historic drop in value, going from a peak of $250 billion in the fall of 2007 to $167 billion in March 2009, a loss of about a third during that period. It is now around $200 billion. REUTERS/Max Whittaker   (UNITED STATES) - RTXPWOZ

How to get out of debt

Financial adviser Eric Brotman offers strategies for cutting debt from student loans and elder care -- and how to avoid money woes in the first place.  Video