Sber extends 2-billion-ruble line of credit to food manufacturer brand Maheev
Sber has signed an agreement to extend a line of credit with a RUB 2 bn limit for AO Essen Production AG, one of the largest food product manufacturers in Russia. The company will use the funds for working capital to ensure the fluidity of production and expand distribution channels.
We are pleased to support a company that produces quality food products and ensures national food security. We have provided RUB 2 bn of financing to AO Essen Production AG for 36 months. The transaction was completed with a floating interest rate and there is a function built in to protect the product from an increase. I would also like to note that the credit agreement was concluded using the simplified AI-based Loan in 7 Minutes process, which allows us to conserve time and our clients’ energy.
Senior Vice President, Sberbank