DeutscheBank provides bonafide bridge finance

  • 2005-06-15
  • From wire reports
RIGA - The finance department of the Riga City Council recently accepted an offer from Germany's Deutsche Bank AG to lend 82.24 million lats (117 million euros) for the construction of the new Dienvidu (southern) bridge over the Daugava River. Deutsche Bank was the sole applicant in the City Council's tender for the right to fund the first phase of the bridge project. "The construction of Dienvidu bridge is the largest project of the Riga city so far in terms of money," said Karlis Kavacs, head of the city council's finance department. The loan, carrying an annual interest rate of 6.28 perc...
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