15 Mar 2010 14:10

Sviaz Bank raising 16 bln rubles in loans from VEB

MOSCOW. Mar 15 (Interfax) - Sviaz Bank is raising two subordinated loans from Vnesheconombank (VEB) totaling 15.976 billion rubles, Sviaz Bank said in a statement.

Shareholders approved the loans at an extraordinary meeting on March 10.

The first loan for 1.005 billion rubles will be raised under the one-to-one formula, that is, the amount of the VEB loan will be matched by shareholders. The second loan for 14.971 billion rubles will be provided under the three-to-one formula.