10 May 2012 17:58

VTB Group extends $150-mln loan to Alrosa

MOSCOW. May 10 (Interfax) - VTB Group has provided Russia's diamond monopoly Alrosa with $150 million of financing, VTB said in a press release.

VTB Bank (Austria) AG, a participant in VTB Group's European subholding, acted as the loan agent.

The Alrosa group (besides Alrosa, it includes the companies Alrosa-Nyurba , Diamonds of Anabar, Severalmaz and 32.8% of Angola's Catoca) expects to generate $5.074 billion in revenue this year, or 15% more than in 2011. Meanwhile, the company could lower its diamond production guidance in 2012, which was previously 34.6 million carats.