Raiffeisen provides EUR 460 mln financing to Basic Element

A consortium led by Raiffeisen Zentralbank Oesterreich AG (RZB) provided a EUR 460 mln facility to Rasperia Trading Limited, affiliated with Basic Element. The purpose of the facility is to refinance the existing Rasperia's margin loan secured by shares in publicly listed Strabag SE. Basic Element holds 25% stake in Strabag SE since 2007. The new facility by RZB is guaranteed by Basic Element.  It has tenor of two years.

"We consider our stake in Strabag strategic investment and will focus on joint projects in Russia", - says Gulzhan Moldazhanova, CEO of Basic Element.