Nomos-Bank Grants $50mn Loan to Tikhvin Ferroalloys Plant

Nomos-Bank has granted a loan of $50mn to the Tikhvin Ferroalloys Plant (TFP), a major Russian ferrochrome producer located in the Leningrad Region. The loan was granted on the security of 100% of the plant’s shares until December 25, 2009.

The plant will use the money to ensure its current operation.

Nomos-Bank has been financing the project to build TFP from its inception. In all, it has granted $155mn in loans to the plant (including the latest loan).

Nomos-Bank is a leading universal private bank in Russia, a strong player in the securities, corporate lending and precious metals markets. It has branches in all major Russian cities and is one of the top 20 Russian banks in terms of equity and assets.