OREANDA-NEWS. November 22, 2010. 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 USD140 million and a tenor of 5 years, reported the press-centre of Sberbank.

The facilities are comprised of a USD 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.”