Renova Inks $2B Syndicated Loan

Russian investment firm,Renova, has secured a $2.07 billion syndicated loan,Reutersreports. The syndicate of banks extending the loan includeCredit Suisse,ING Bank,Natixis,Raiffeisen Bank International,SberbankandUniCredit Bank Austria.

The proceeds from the loan will be used to refinance debt and fund corporate activities. Renova, which has stakes in oil producer,TNK-BP, and aluminum smelter,UC RUSAL, is owned by Russian billionaireViktor Vekselberg.

Click here for the story fromReuters.