"While in conference, we took stock of prospects for overseas loans. The bank offered us a $300 million loan on terms that suit Russian Railways," said Mr. Fadeyev.
The Parties agreed to establish ad hoc teams to work out prospective loan arrangements. They will start work in two weeks or so.
The CitiGroup does not rule out its involvement as Russian Railways will sell its Eurobonds abroad. The bank is not after preferential purchasing terms, stressed Gennady Fadeyev.
"That was our maiden conference at this high level, and it discussed only tentative intentions. Judging by what we agreed upon, the bank intends to be active in Russian Railways overseas loans," he went on.
Of major importance to the CitiGroup are the Russian Railways high ratings and fine recent financial achievements. Strategic and financial negotiations are coming in now, Mr. Fischer said, in his turn.
