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Sviaz-Bank and Acron Sign USD 90 Million Loan Facility Agreement

Sviaz-Bank and Acron have executed a five-year loan facility agreement on financing cooperation with a total credit limit of up to USD 90 mn for Acron and its subsidiary Dorogobuzh, under which the Bank will open revolving loan facilities for the two companies.

The loan will be used to finance the companies’ current operations.

Sergey Volokhov, Vice Chair of Sviaz-Bank’s Management Board:

“Acron is one of our key strategic partners with which the Bank has a long-standing business relationship. The company has proved itself to be a reliable, creditworthy borrower and a sustainably developing company with leading positions in its market segment. We hope that the Bank’s additional financing will help promote key business avenues and increase output.”

Oscar Valters, Acron Senior Vice President:

“We have had several years of joint work with Sviaz-Bank. In 2010-2011 alone the Bank allocated over RUB 9.9 billion or USD 330 million to finance the Group’s operations, enabling us to invest heavily in our company’s development. We expect that Sviaz-Bank will continue provide financial support to Acron Group in implementing its key investment projects.”