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ÍîâîñòèCredit-Moscow Bank Participates in Syndicated Loan07.06.06
The city of Novosibirsk, the first Russian municipal formation, has obtained a public syndicated loan in the amount of 700 million roubles. On May 11, 2006, the mayor of Novosibirsk, Vladimir Gorodetsky signed the appropriate agreements with representatives of seven major international and Russian banks. The functions of the loan organizer and the agent bank are performed by the Bank of Moscow. In addition to the Bank of Moscow, the members of the syndicate include: Standard Bank, International Moscow Bank, Vneshtorgbank, ICICI Bank, Parex Bank. Novosibirsk is the third largest Russian city (population: 1.5m) after Moscow and St. Petersburg and the largest Siberian city. The city’s main industries include mechanical engineering, metallurgy and power engineering. Novosibirsk is a major Siberian transportation node, and an important scientific center. In recent years the city’s economic development has been characterized by stable growth. Novosibirsk has at its disposal the largest budget among Russian municipal units. The earnings of the city's budget are highly diversified. The city has successful experience of three issues of rouble bonds. |
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