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. Last Updated: 07/27/2016

NRB Pays on Loan

MOSCOW -- Russia's National Reserve Bank at the end of November paid back 12 percent of a syndicated loan worth $42 million and 20 million Swiss francs, a bank spokesman said Tuesday.

He said the bank, one of the nation's larger commercial financial institutions, is negotiating with its creditors to extend the repayment period for the remainder of the loan.

The bank received the three-year loan in November 1997 at a financing rate of LIBOR plus 3.5 percent from a group of 18 international banks, including Eurasco Bank AG, London Forfaiting Asia Ltd., Bank of America and Moskovsky Narodny Bank.