Bigger part of TsKAD road opened for traffic with financial support from Sberbank
On December 28, 2020, traffic was launched on TsKAD (the Central Ring Road or CRR) on sections with a total length of over 170 km. The Central Ring Road project has been implemented with the participation and support of Sberbank since 2015. Over this time, the bank has provided a wide range of banking products and services within CRR-1, CRR-3, and CRR-4 projects.
In November 2015, Sberbank provided bank guarantees for the return of the advance payment and the fulfillment of obligations for a total amount of over RUB15 bn under the obligations of Crocus JSC, meeting the terms of a long-term investment agreement concluded with Avtodor GC to construct and maintain CRR-1. In October 2020, the bank approved a loan for Crocus JSC with a borrowing limit of RUB7.15 bn to finance the completion of this section of the road in 2021.
In September 2016, Sberbank structured a bank guarantee for the fulfillment of obligations for the concessionaire, which was required in order to sign a concession agreement on financing, construction, and maintenance of CRR-3 between the Russian Federation (Avtodor GC) and OOO Avtodorozhnaya Stroitelnaya Korporatsiya (Car Road Construction Corporation LLC). Then, in 2017, the bank structured a set of advance guarantees and performance guarantees with a total worth exceeding RUB38 bn, and, as part of a syndicate of banks, provided a project loan overshooting RUB36 bn, which fully met the project’s financial needs.
In 2018, the bank completed the financial closure of the CRR-4 project by signing a lending agreement with OOO Yugo-Vostochnaya Magistral (OOO YuVM) to meet the terms of a concession agreement on the financing, construction, and maintenance of CRR-4.
In 2019, with the participation of Sberbank, a syndicate of banks was formed and a total of over RUB35.8 bn in financing was allocated for 17 years. In 2019, the bank also structured several bank guarantees totaling more than RUB21 bn, ensuring the fulfillment of obligations to return the advance payment of the concessionaire OOO YuVM and the general contractor LLC KSK No. 1, which is part of the Autoban Group of Companies. In 2020, the bank gave the general contractor OOO KSK No. 1 a bridge loan with an aggregate borrowing limit of RUB4 bn, which was necessary to accelerate construction under the project.