Austrian bank extends $35m revolving credit line for Belarusian BMZ

         UniCredit Bank Austria AG and Belarusian Steel Works BMZ have signed an agreement on extending a $35 million revolving credit line for the benefit of the Belarusian company, the press service of Belarusian Steel Works reports. The availability of guaranteed financial resources from a major European bank will allow BMZ with its vigorous export operations to make timely transactions with foreign partners and choose the most suitable time for using the available money tranches. The Belarusian company will be able to get new credit disbursements right after repaying previous ones.
      BMZ and UniCredit Bank Austria AG started cooperating in 2009 when the sides signed a $10 million credit agreement to finance purchases of raw materials. The reputation of the Belarusian company in the international business community, the company’s premium-class borrower category and wise actions of the management in 2010 increased the limit of financing up to $25 million and up to $35 million later.