UniCredit Bank Austria AG and BMZ JSC — the Management Company of BMC Holding — have signed an agreement to extend a $35 million revolving credit line to Belarusian BMZ, allowing it to complete transactions with foreign partners and operate in a timely manner, to take full advantage of export opportunities. It will gain access to new credit as soon as it repays previous loans.
BMZ and UniCredit Bank Austria AG began co-operating in 2009, signing a $10m credit agreement to finance the purchase of raw materials. The Belarusian company’s international reputation and premium-class borrower ranking, alongside wise management in 2010, first increased its credit limit to $25 million (and then up to $35 million). The foreign bank’s trust is founded in its faith in BMZ as a reliable partner.
The management of the Austrian bank has declared its intention to continue working with the Belarusian Steel Works despite complicated political, financial and economic global events. Agreements have been signed to extend credit lines to Austrian-based Belmet Handelsgesellschaft mBH: a joint venture and distributor of BMZ products. The loan is being used for pre-shipment financing of BMZ metal exports.
By Valery Sidorov
