Sberbank opens line of credit to Vnukovo Hotels for purposes of refinancing debt to foreign banks

Feb 13, 2020

February 13, 2020, Moscow — Sberbank has opened a line of credit to Vnukovo Hotels LLC (DoubleTree by Hilton Moscow - Vnukovo Airport 4*) for eight years to help it refinance the entire debt to foreign banks which was attracted to build hotel facilities.

Previously, the consolidation of Vnukovo International Airport assets was completed in September 2017, while in December 2017 Sberbank and the airport signed a RUB 9 bln agreement to refinance the repayment of loans to other banks.

Olga Kharlamova, Vice President, Director of Key Client Lending, Sberbank,

“This deal is important for us as Sberbank became a sole lender to Vnukovo Hotels and proved once more being a reliable financial partner. As a result of the loan refinancing, the company is able to service its loans under more flexible conditions and with lower interest rates.”