Bank of Moscow lends NIS USD 100mn

NIS and Bank of Moscow have signed a two-year USD 100mn loan agreement with the possibility to extend the deadline by another year.

Izvor: FoNet

Tuesday, 20.10.2009.

14:59

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NIS and Bank of Moscow have signed a two-year USD 100mn loan agreement with the possibility to extend the deadline by another year. The funds, which will be used to finance the Serbian Oil Industry’s (NIS) current activities, will not increase the company’s credit portfolio compared to the level from the beginning of 2009, according to a NIS statement. Bank of Moscow lends NIS USD 100mn It adds that Bank of Moscow-Belgrade, the company’s subsidiary in Serbia, will be act as the bank-agent in the agreement. Russian Gazpromneft owns a 51 percent stake in NIS, with the remaining 49 percent belonging to the Serbian government. Bank of Moscow is the first Russian credit organization to receive a National Bank of Serbia license for performing banking operations. The bank will in future specialize in monitoring Russo-Serbian trade transactions and joint projects.

Bank of Moscow lends NIS USD 100mn

It adds that Bank of Moscow-Belgrade, the company’s subsidiary in Serbia, will be act as the bank-agent in the agreement.

Russian Gazpromneft owns a 51 percent stake in NIS, with the remaining 49 percent belonging to the Serbian government.

Bank of Moscow is the first Russian credit organization to receive a National Bank of Serbia license for performing banking operations.

The bank will in future specialize in monitoring Russo-Serbian trade transactions and joint projects.

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