20 Jul 2009 14:19

VSMPO gets $165 mln in credit lines from Sberbank

MOSCOW. July 20 (Interfax) - Sberbank Russia has opened two non-renewable credit lines totaling $165 million for titanium monopoly VSMPO-Avisma, the bank said in a statement.

One credit line is for one year and the other is for five years.

VSMPO plans to use the proceeds to finance investment expenses and refinance debt to other banks.

The Rostekhnologii state corporation owns 66% of shares in VSMPO-Avisma.