VTB has opened a host of large credit lines with companies in the CIS region, in what’s been an extremely busy month for the Russian bank.

Sollers, a Russian automotive manufacturer, has been awarded a three-year Rb3.5bn (approximately US$79.2mn) credit line. The first tranche of Rb1bn (about US$31.7mn) has already been disbursed, with the rest available to draw down over the course of the tenor. The finance will be used to finance Sollers’ manufacturing operations, which includes the production of Russian UAZs, Korean Ssangyong SUVs and petrol and diesel engines.

Acron Group, the mineral fertiliser provider, has secured an export finance facility worth US$150mn. The loan is part of a three-year US$200mn facility VTB has extended to assist Acron’s exports to the US, China, Thailand and Brazil.

In the southern Urals, the bank has opened a Rb1bn credit line with energy company Chelyabenergosbyt. The 12-month facility will be used to support its corporate operations, which consists of the wholesale purchase and sale of electricity.

Railway leasing company TransFin-M has sealed a financing package worth Rb19.5bn (approximately US$617.7mn), the first tranche of which (worth Rb11.3bn) has already been released. Again, the loan is for general corporate purposes.

One of Russia’s largest quarry companies, Kuzbassrazrezugol (KZRU), has sealed a Rb3bn (about US$95mn) loan, as part of wider financing package of Rb10bn VTB has extended. KZRU, which is part of the Ural Mining and Metals Company (UMMC) will use the five-year facility to refinance existing debt and finance its current operations. KZRU accounts for 60% to 70% of Russia’s coal exports to Western and Eastern Europe.

Finally, in the Ukraine, the state-owned railway company Ukrzaliznychpostach has selected VTB to open a letter of credit worth US$50mn, with a deferred payment option.