OREANDA-NEWS. March 31, 2014. Sberbank Europe AG, a subsidiary of Sberbank of Russia, has completed the signing of a debut syndicated term loan facility of EUR 350 million.

A number of leading international banks joined the syndicated term loan facility for Sberbank Europe AG, the loan is unsecured and has been given on a stand-alone basis without parental guarantee. It has a tenor of 364 days with bullet repayment and carries a margin of 60 basis points over EURIBOR. The syndicated term loan will be used to support the strategic growth and development of Sberbank Europe in Central and Eastern Europe.

Commenting on the loan Sergey Gorkov, Deputy Chairman of the Board, said,

 “This is another positive development for Sberbank Europe, a subsidiary of Sberbank Russia which operates in one of our priority markets. The success of the transaction highlights the close relationships and trust that Sberbank Europe enjoys with international financial institutions.”

Bank of America Merrill Lynch, Barclays Bank PLC, Citi, Commerzbank, Aktiengesellschaft, HSBC Bank plc, ING Bank N.V., J.P. Morgan Limited, Mizuho Bank Ltd., Sumitomo Mitsui Banking Corporation and UniCredit Bank Austria AG acted as Mandated Lead Arrangers and Bookrunners for the syndicated loan. BNP Paribas, Societe Generale, Credit Suisse AG, Deutsche Bank Luxembourg S.A., Sberbank of Russia, and UBS Limited joined during the syndication phase.

Barclays Bank PLC, Commerzbank, Aktiengesellschaft and ING Bank N.V. acted as joint Coordinators of the Facility, with Barclays Bank PLC acting as Documentation Agent and ING Bank N.V. acting as Publicity Agent. Commerzbank  Aktiengesellschaft Filiale Luxemburg will act as Facility Agent.