Aeroflot to attract $40m in credits

Aeroflot Russian Airlines is planning to attract $40m in a syndicatedcredit from a group of Russian and international banks in October 2002, asource in the company reported today and pointed out that the allottedresources would be used for updating Aeroflot's aircraft fleet. Seven banksparticipated in the tender for selecting the organizers of the syndicatedcredit announced by Aeroflot. As a result, the credit will be released byRaiffeisenbank Austria, the Raiffeisenbank Avstriya joint stock company andCitibank. The term of the credit is one year, the interest rate amounts tothe LIBOR (the London Interbank Offered Rate) plus 3.5 percent..

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