Nordea Bank has opened credit lines to the city authorities of Novosibirsk

03.06.2010

Nordea Bank has opened credit lines to the city authorities of Novosibirsk

OJSC Nordea Bank and the city hall of Novosibirsk have signed loan facility agreements.

The Bank will advance to Novosibirsk two-year loans in the total principal amount of RUB 850 million.

The agreements have been signed upon releasing of the results of an open tender announced by the city hall of Novosibirsk on 23 April 2010.

The Bank placed its offers in all four lots of the tender for the right to advance loans in the following aggregate principal amounts: RUB 280 mn, RUB 240 mn; RUB 150 mn and RUB 180 mn.

The funds will be advanced by the Bank for refinancing of the city budget deficit and redemption of the municipal debt obligations.

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