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Armeconombank will learn when it will receive second syndicated loan

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  • Armeconombank will learn when it will receive second syndicated loan

    In late Sept 2008 Armeconombank will learn when it will receive the
    second syndicated loan


    2008-08-15 21:41:00


    ArmInfo. In late Sept 2008 Armeconombank will learn when it will
    receive the second syndicated loan, the vice chairman of the Board of
    Armeconombank Hayk Lazarian has told ArmInfo.

    Earlier the chairman of the Board of the bank David Sukiassyan said
    that the size of the loan would range within $15mln-20mln.

    To remind, in Dec 2007 Armeconombank signed an agreement with EBRD for
    receiving a syndicated loan worth $15mln. The loan was provided by EBRD
    and six big banks: Raiffeisen Zentralbank Osterreich AG and Bank
    Austria Creditanstalt AG (Austria), State Bank of India, Land Bank of
    Taiwan and FBN bank Limited (UK). EBRD lent $5mln for 36 months, the
    other banks - $10mln ($5mln for 18 months, $5mln for 12 months - in
    both cases the period of repayment can be prolonged). The money is to
    be spent on support of small and medium-sized business.
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