EBRD HELPS RUSSIA BEER BOTTLER DEAL WITH RECESSION DEBTS
July 1st, 2010
BY KEITH NUTHALL
THE EUROPEAN Bank for Reconstruction & Development (EBRD) is lending Russia's largest glass bottle manufacturer Russian roubles RUB460 million (around Euro EUR12 million) to help reduce its foreign exchange exposure and swap maturing debts for a single longer-term local currency facility. This three-year loan will help Ruscam, a subsidiary of Turkey's Anadolu Cam group, (itself owned by the Turkish ?isecam conglomerate), deal with the fall-out if last year's 10% recession-sparked decline in the Russian beer market. The EBRD's director for ...
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