VTB is looking to secure about $3 billion in a syndicated loan, two banking sources told Reuters on Tuesday.
"They are looking at around $3 billion and are likely to take all the amount. Or even more," one of the sources said.
Another source confirmed that VTB is seeking to raise about $3 billion via a syndicated loan, while initially the lender was looking for $1.5 billion. Sources told Reuters in March that VTB wanted to raise funds to for the acquisition of shares in Bank of Moscow, where it recently bought a nearly 50 percent stake.
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.
