$8Bln in Loans For Russian Companies Endangered By Ukraine Turmoil | The Moscow Times

$8Bln in Loans For Russian Companies Endangered By Ukraine Turmoil | The Moscow Times:



"Loans worth $8 billion being sought by Russian companies from international banks are in danger of falling through because of the crisis in Ukraine, a news report said.



Billionaire Mikhail Fridman's telecoms company VimpelCom is among 10 Russian firms who had been in negotiations to receive loans from U.S., European, and Japanese banks. Russian companies took on $52 billion in dollar-denominated loans last year, up from $38 billion in 2012, Bloomberg reported Tuesday. 




Moves by foreign banks to lower the cost of debt and attract greater involvement have spurred Russian companies to increase their borrowing. VimpelCom is currently seeking a $2 billion credit line, according to sources familiar with its financing. Among other companies seeking loans are Petrochemicals company Sibur, owned by billionaire Leonid Michelson, miner and metals company Metalloinvest and Novolipetsk Steel, industry insiders said. Potash producer Uralkali, state nuclear corporation Rosatom and Slavneft have also held talks with banks."



'via Blog this'