Deutsche Bank to grant $470 mln loan to Russian developer STT
Deutsche Bank will grant 12 billion rubles ($470 million) to Russian developer STT Group for the implementation of property projects, the bank's Russia division said Monday.
The bank did not disclose the details of the loan's redemption period or interest rate. STT Group, which is owned by Russian entrepreneur Shalva Chigirinsky, will use the loan's first 3 billion ruble ($118 million) tranche to refinance a loan used for the reconstruction of a major trading center in St. Petersburg. (rian.ru)
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.