Sberbank participates in a syndicated loan for Renova Group of Companies
January 11, 2011, Moscow - Sberbank of Russia (RTS, SBER, ММВБ: SBER03) announces his participating as a Mandated Facility Arranger and a Lender in a syndicated loan up to CHF 2.0 bln. arranged for Renova Group of Companies.
The Facility is structured as a free-standing club deal and divided into 4 tranches with tenors ranged from 4 up to 7 years, Sberbank of Russia participates in three of the tranches.
The club was arranged by the following banks: Credit Suisse AG acting as the Security Agent, ING Bank N.V. acting as the Coordinator and Facility Agent, Natixis (through Nexgen Capital Limited), ZAO Raiffeisenbank, Raiffeisen Bank International AG, Sberbank of Russia and UniCredit Bank Austria AG. The amounts borrowed under the Facility will be applied towards refinancing of the Group’s existing debt and general corporate purposes.
Viktor Vekselberg, Chairman of the Board of Directors of Renova Group of Companies, stated: «The transaction is unique if we consider the list of the club participants which represent commercial and investment bank services. Sberbank’s participation in the deal together with international banks should be highlighted. The banks invited to participate in this transaction have a long-term relationship with Renova Group of Companies, which allowed it to raise financing on attractive terms and demonstrates that the Group is a reliable partner on both Russian and global markets».
Alexey Grenkov, Managing Director, the Head of Client Managers Department, Major Corporate Clients Department, summarized the results of the deal: “Sberbank participation in the deal together with the first-rate international banks proved us to be among key players in the loan syndication market, and at the same time strengthened our relationship with Renova Group of Companies. We are delighted to partake in financing new innovative technologies, in which Renova Group of Companies successfully invests in Russia and abroad. We are positive that Sberbank of Russia will make use of the business experience acquired in the course of the deal to offer new opportunities for cooperation with Russian companies working in global markets.”
Sberbank of Russia