Sberbank of Russia US$80,000,000 & US$60,525,000 Bilateral Term Loan Facilities
15 November 2010, Moscow - Sberbank of Russia (“Sberbank”) and WestLB AG, London Branch (“WestLB”) are pleased to announce the completion of two facilities arranged by WestLB for Sberbank in a total volume of over US$140 million and a tenor of 5 years. The facilities are comprised of a US$80,000,000 bilateral loan signed in August 2010 and a US$60,525,000 bilateral loan signed in October, 2010. Both facilities arranged by WestLB are for trade-related purposes to finance activities of Sberbank’s clients and a testament to Sberbank’s growth strategy in the trade finance area.
Sberbank’s Deputy Chairmain Andrey Donskikh remarked:”The rationale for raising these loans lies within Sberbank’s strategy aimed at financing the foreign trade activities of the bank's clients, including via loans raised from international financial institutions. The 5-year loan tenor allows us to finance foreign trade transactions of our customers by providing a longer payback period, which is required e.g. in the sphere of international aircraft leasing transactions."
WestLB’s David Pepper added: “It is a testament to the excellent reputation of Sberbank in the international financial markets that we were able to arrange both transactions consecutively and in such a short order. WestLB is very pleased to have been able to assist Sberbank in their trade-related, international fund raising efforts and meet the extremely tight timing deadlines dictated by Sberbank’s customers.”
|Sberbank of Russia|
phone +7(495) 957 5721
WestLB AG, London Branch|
Head of CEEMEA Syndicate
Telephone:: +44 20 7020 3624
Sberbank: Sberbank of Russia (Sberbank) is the largest Bank in Russia, Central and Eastern Europe, with approximately 30% of the total assets of the Russian banking system and around 240,000 employees. The Central Bank of the Russian Federation is the founder and the majority shareholder of Sberbank (over 60% of the voting shares), with the rest of the shares dispersed among more than 260,000 individuals and legal entities. The Bank has the most widespread branch network in Russia: 18 Regional Head Offices, over 20,000 branches and banking outlets, as well as subsidiaries in Kazakhstan, Ukraine and Belarus. Sberbank holds the General License No. 1481, issued by the Central Bank of the Russian Federation.
Corporate website: www.sberbank.ru
WestLB: WestLB AG is a European commercial bank with firm roots in North Rhine-Westphalia, Germany´s largest federal state. With total assets of € 251.2 billion as at June 30, 2010, it is one of Germany´s leading financial services providers. WestLB offers the full range of products and services of a universal bank, focusing on lending, structured finance, capital market, asset management, transaction services and real estate finance. WestLB employs 4,780 staff (as of June 30, 2010).