21 Apr '10
Authorities in Saratov region have announced an open tender among banks for loan contracts worth a total of $260m to finance the regional 2010 budget deficit, regional officials report.
The authorities are reportedly looking for two loans – 17-to-20-month $120m loan and 33-to-36-month $140m loan.
Starting maximum interest rates are set at 12% and 12.5% respectively.
The auction is scheduled to take place on May 12, 2010.