MOSCOW, September 30 (RIA Novosti) - Russian Railways (RZD), the country's railway monopoly, has secured a syndicated $600 million loan Wednesday from international banks, the company said in a press release Friday.
"The borrowed funds will allow the company to significantly expand its involvement in various investment and construction projects, both in Russia and abroad," the document quoted the company's president Vladimir Yakunin as saying.
The loan consists of two $300 million tranches with three- and five-year maturity, and interest rates of LIBOR+.75% and LIBOR+.90%, respectively.
The loan is underwritten by an international syndicate of 28 banks including Barclays Capital, Dresdner Kleinwort Wasserstein, HSBC Holdings, and Raiffeisenbank.
Russian Railways is the 100% state-owned operator of the country's railroad infrastructure, and the main freight and passenger rail carrier.
