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ECONOMIC BRIEFS

Ministry snags highway building syndicated loan

The Slovak Finance Ministry and foreign banks signed a syndicated loan contract worth 4 billion Sk ($120 million) that will support highway construction in Slovakia, ministry officials announced.

The loan, managed by the London branch of the Industrial Bank of Japan, will be provided by a bank consortium made up of Bayerische Landesbank Girozentrale, Credit Lyonnais, Industrial Bank of Japan in London, Kreditbank N.V., Dublin branch and the Sanwa Bank.

The loan carries a seven-year maturity, with the option to postpone the maturity period to 10 years. The loan will be made in two tranches of $50 and $70 million, respectively.

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