BoD of Vyborg shipyard approves raising of RUB 1.2 bln loan from VTB for construction of icebreakers
The Board of Directors of Vyborg Shipyard OJSC has approved the transaction on opening by VTB of a revolving line of credit for 2 years (with credit limit of RUB 1.2 bln), the company says. The resources will be used to finance the construction of icebreakers and to support the company’s current activities. Under the agreement, the interest rate on the credit is not to exceed 12.5%.
The final decision on the deal will be taken at the extraordinary general meeting of VS shareholders which is scheduled for April 7, 2014.
Vyborg Shipyard OJSC is one of the largest shipbuilding companies of the North-Western Region of Russia with over 60-years’ experience in shipbuilding. Vyborg Shipyard is a member of the United Shipbuilding Corporation. Today the Shipyard specializes in building drilling rigs for offshore deposits development, vessels of small and medium tonnage as well as ship repair.