Promsvyazbank issued the first loan to a business in gold – Kommersant
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Promsvyazbank (PSB) issued the first loan in the amount of more than 100 kg of gold for a period of one year for a gold mining enterprise in the Trans-Baikal Territory. The name of the company is not specified.
“Servicing of interest payments, as well as loan repayment, will also be carried out in gold, which is especially interesting for an enterprise engaged in the mining of precious metals,” it is said in message PSB.
The bank added that such a loan will ensure the financial stability of the company that mines gold, regardless of the price of the precious metal. The deal, as indicated in the message, opens up additional opportunities for financing gold miners on more favorable terms compared to issuing a loan in rubles.
An alternative form of financing, according to Nikita Dushkin, director of the department of investment and complex financial transactions at PSB, has become part of a new strategy to create niche product and geographic advantages. Next year the bank will continue to develop this area, he added.
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