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Sibur-Russian Tyres Opens Credit Line

(Clacton, U.K./Tyres & Accessories) Sibur-Russian Tyres Co. has obtained a credit line worth $300 million from Evrofinance Mosnarbank. The loan’s fixed interest rate is 8.5% per annum.

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 The credit line was opened to cover seasonal payment delays from winter tyre customers, according to the company’s new communications manager Natalia Vasutina. The loan will be drawn up by Dec. 1. One of Sibur-Russian Tyres subsidiaries has been used as credit security.

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Vadim Yakovlev, CFO of Sibur-Russian Tyres, commented: “Enough low interest rate confirms financial institutions confidence in our company activities.”

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