ZURICH, Sept 16 (Reuters) - Renova, a Russian holding company that holds
controlling stakes in two Swiss companies, said on Tuesday it had raised a $350
million loan from a consortium of seven banks.
"This transaction has become a true verification of our relationship with
the banking community under challenging market conditions," said Denis
Krivonogov, Renova's director for corporate finance, in a statement.
"The successful execution of the club deal proves the highest degree of
confidence in Renova group expressed by the world's leading banks and the
group's sound financial position," he said.
Renova, which is owned by Russian billionaire Viktor Vekselberg, did not say
how it would use the money.
The group has a roughly 26 percent stake in Swiss engineering company Sulzer
and holds a 39 percent stake in Swiss technology group Oerlikon.
The consortium consisted of ABN AMRO Bank N.V., which also acted as
coordinator, Bank Austria Creditanstalt AG, BNP Paribas, Commerzbank AG, ING
Wholesale Banking, Raiffeisen Zentralbank Oesterreich AG and VTB Bank Austria
AG.
Allen & Overy and White & Case acted as legal advisors to the transaction,
Renova said.
(Reporting by Katie Reid; editing by Rory Channing) Keywords: RENOVA/
tf.TFN-Europe_newsdesk@thomson.com
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