20 May 2013 15:53

Russian govt extends anti-crisis guarantee program into 2013

MOSCOW. May 20 (Interfax) - The Russian government has extended into 2013 its program of anti-crisis guarantees for loans or bonds raised by companies while financial markets deteriorate.

Russian Prime Minister Dmitry Medvedev signed the relevant instruction on May 15. The program was originally due to last until 2012.

Guarantees are provided in rubles or dollars on loans or bond issues raised by Russian companies and organizations selected by the government for three to seven years.

The rules state that up to 70% of loans or bond issues raised by defense industry organizations on the list of strategic enterprises and which fulfill state orders are guaranteed; and up to 50% of loans or bond issues raised by other organizations are covered.