RE: RE: No PEC news yetChecking the news on Belaruskali and BPC everyday - I also see a breakup of BPC if the Russians don't get to buy Belaruskali anytime soon.
Belaruskali to Receive Russia's $1 Billion without Shares Pledge
Deputy Prime Minister of Belarus Sergei Rumas said on September 12 that the Savings Bank of Russia intends to allocate $1 loan to the enterprise Belaruskali without a pledge of shares as security for the loan repayment. According to the Deputy Prime Minister, an agreement between the parties has been reached.
Sergei Rumas explained that the funds raised would be used to "stabilize the situation in the domestic market," BelTA informs.
Earlier, as Telegraf previously reported, a $2 billion loan was planned for Belaruskali from the Savings Bank of Russia and Deutsche Bank. However, they were willing to lend only on 35% stock and the provision of export contracts. According to some experts, this part of the shares costs about $10.5 billion.
In this regard, the head of Belaruskali, Valeri Kiriyenko, said that the Belarusian government had better refute the credit under such conditions.