KAMA TYRES Is Modernizing Production Works Together with ZENIT Bank
22 январяZENIT Bank acted as the organizer and lending agent in the multicurrency syndicated loan transaction. Financing is carried out within the framework of the Government Decree No. 191 On state support of industrial enterprises implementing corporate programs to improve competitiveness dated February 23, 2019.
PJSC Moscow Credit Bank and JSC All-Russian Bank for the Regions Development were other participants in the syndicate. The first tranche disbursement in the amount of EUR39.26 million more than 3.5 billion rubles within the framework of the syndicate was performed at the end of December 2020. The total amount of the syndicated loan is about RUB 10 billion. The term is 10 years.
As part of the NZGS modernization project, the plans provide for expanding the facility capacity to produce solid steel tyres by 1.2 million tyres per year and creating a new product: large-sized tyres in the amount of 33 thousand tyres per year.
Gyuzel Khabutdinova, Director of OOO Tatneft-Neftekhim Management Company:
We are glad to cooperate with ZENIT Bank, which has been helping to finance our projects for many years. KAMA TYRES plans to increase the production of solid steel cord tyres at NZGSh and to cope with using a new market niche for large-sized industrial and agricultural tyres. We are confident that the implementation of these projects will allow us reinforcing our standing in the domestic and foreign markets .
Syndicated loan is a loan provided by two or more lenders syndicate of lenders with certain shares of participating in a given transaction within the framework of a single loan agreement.
OOO Nizhnekamsk Truck Tyre Factory is a part of the KAMA TYRES, which is TATNEFT Group s Tyre Manufacturing Business, it is the largest enterprise for the production of truck tyres in the Russian Federation and CIS countries. There are 112 commodity items of truck tyres in the product portfolio of NZGSh: 80 solid steel tyre brands of KAMA, KAMA PRO and 32 items of combined KAMA tyres. The largest automotive enterprises, such as PJSC KAMAZ, PJSC NEFAZ, OOO GAZ Automobile Plant, OOO PAZ, JSC Ural Automobile Plant, OOO IVECO-AMT, OOO LiAZ, JSC Remdizel, OOO KAVZ, OOO Tverstroymash. Tyres are also exported to the near and far abroad countries. The management of enterprises united under the corporate KAMA TYRES brand is carried out by OOO MC Tatneft-Neftekhim Management Company.
PJSC ZENIT Bank has been operating in the Russian financial market for 25 years. 71.1 of the credit institution shares belong to PJSC TATNEFT named after V.D. Shashin. The Bank is represented in 25 regions of Russia; its own sales network includes 117 points. The credit organization has a wide international correspondent network of partner banks and cooperates with more than 100 international institutions in Europe, America and Asia. ZENIT Bank is rated by international rating agencies at Ba3 Moody s , BB Fitch and ruА- [RAEX Expert RA ]. It is a shareholder of OOO ZENIT Finance, JSC National NPF, OOO ZENIT Leasing.
Crude Oil Production Enterprises of the TATNEFT Group of Companies produced 2,188.6 thousand tonnes of crude oil in December with the production volume from the beginning of the year amounting to 26,013.5 thousand tonnes, which was 3,784.5 thousand tonnes less than during the same period in 2019.
TATNEFT announces the VIth competition for grants provision of PJSC TATNEFT Company.