Russia's VEB says extends loans for six firms

Thu Oct 8, 2009 10:03am EDT
 
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MOSCOW, Oct 8 (Reuters) - Russia state-controlled VEB bank has extended loans for six firms, including Gazprom's oil arm Gazpromneft (SIBN.MM), the head of the bank Vladimir Dmitriyev said on Thursday.

Earlier a source close to VEB's supervisory board told Reuters VEB may reject an application from Gazpromneft (SIBN.MM).

The source said VEB proposed to increase interest rate on loans for technology firm Sitronics (SITRIq.L) by 130 basic points to LIBOR plus 8.3 percent and for real estate developer PIK (PIKK.RTS) by 100 basic points to LIBOR plus 9.0 percent. The source also said interest rates on loans issued to aluminium giant RUSAL, steelmaker EVRAZ (HK1q.L) and telecom company Altimo may stay at LIBOR plus 5.0 percent.

Dmitriyev confirmed the terms on some loans had been changed but gave no details. (Reporting by Dasha Korsunskaya, writing by Dmitry Sergeyev, editing by Gleb Bryanski)

 

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