Bank Forum Attracts USD 25 mln from EBRD
29 January 2008
According to Interfax, Bank Forum (FORM: BUY) received a USD 25 mln loan from the European Bank for Reconstruction and Development. The funds are designed to be used to finance energy-conservation projects in connection with an EBRD program. Alexander Viktorov: As we projected, Forum is leveraging Commerzbank’s status as a shareholder to increase its share of cheaper foreign debt in total liabilities (see our flash note from yesterday). In December, Forum received a USD 36.8 mln Credit Line from the EBRD and earlier this month it was granted a USD 50 mln subordinated loan from Commerzbank.
