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Limit of "Obuv Rossii" GC in VTB Bank Increased to 2 Billion Rubles
VTB Bank opened for "Obuv Rossii" Group of Companies a revolving unsecured credit line of 500 million rubles for three years. As a result of the deal, the total credit limit established by the Bank for "Obuv Rossii" GC increased to 2 billion rubles. The money will be used to finance the current activity of the Group and replenish the working capital.
"Support of companies that are oriented to development, set ambitious goals, find ways to reach them and take part in the national program of import substitution is one of priority directions of work of our bank," comments Viacheslav Bryukhanov, Head of Corporate Branch of VTB in Novosibirsk. "Obuv Rossii" is one of the leading enterprises in the footwear industry of our country. We believe it is especially important that the company invests in the increase of capacities and builds its production on the new technological base."
"VTB Bank is one of our key financial partners," says Anton Titov, Director of "Obuv Rossii" GC. "Due to our cooperation with the bank for over 3 years already, we have substantially increased the amount of business, implemented a number of large projects, including a M&A deal. As a result, we have strengthened the position of our company in the top three of the Russian footwear market."
VTB Bank and "Obuv Rossii" Group of Companies have been cooperating since 2013, when the first credit line of 500 million rubles was opened. During this time the Bank has more than once given financial support to "Obuv Rossii", which facilitated the implementation of strategic plans of the Company and development of new projects.