Trans-Siberian Gold (TSG) subsidiary ZAO Trevozhnoye Zarevo (TZ) has secured a five-year $15-million facility to repay two existing loan facilities amounting to $14.8-million and provide additional funds for working capital and other corporate purposes. TZ entered into the agreement with VTB Bank, subsequently materially improving the terms of its debt facilities and reducing the cost of debt, while maintaining flexibility for growth and development.
