Russia’s VTB in talks to prolong Angola’s $1.5BN loan to 10 years

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Russia’s VTB is in talks with Angola on changing the terms of, and extending, a $1.5 billion loan, the bank’s Chief Executive Andrey Kostin told Reuters in an interview.

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“This topic is interesting for us, we have a fairly positive view on Angola and are now in talks to prolong the loan on new terms to 10 years. Otherwise, Angola would have had to redeem the loan within the next 1.5 years,” Kostin said.

He added that VTB would be interested in helping Angola to arrange a new sovereign bond issue worth “a couple of billion dollars.”

Reporting by Katya Golubkova and Dmitry Antonov; Editing by Christian Lowe

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