BAKU, Azerbaijan, Nov. 30
By Klavdiya Romakayeva - Trend:
UzAuto Motors and the London branch of the Swiss Credit Suisse AG bank signed an agreement to attract an international syndicated loan for up to 150 million euros, Trend reports referring to the press service of UzAuto Motors.
A syndicated loan is a loan provided to a borrower by a syndicate of lenders. This means that at least two banks sign a single loan agreement between themselves and the borrower, on the basis of which they participate in a financial transaction with the borrower in the established shares.
UzAuto Motors is actively working on the introduction of modern management methods based on the best world practices according to the Decree of the President of Uzbekistan "On additional measures for the accelerated development of the automotive industry of Uzbekistan".
The funds received under the agreement will be used to finance investment projects of UzAuto Motors, modernization and technical equipment of the plant, and an increase in working capital.
The implementation of these investment projects will allow UzAuto Motors to launch the production of new General Motors models on the Global Emerging Markets platform.
The signing of an agreement on an international syndicated loan became a landmark deal for UzAuto Motors, as a debut in international syndicated lending.
---
Follow the author on Twitter: @romakayeva