Sberbank CIB arranges financing for RusHydro Group
OREANDA-NEWS. Sberbank CIB arranged financing for RusHydro Group worth RUB 2.776 bln for a period of 8 years. The credit facility will be used to refinance the company's existing loan.
The decision to open the credit line was approved by RusHydro's Board of Directors on March 28, 2014. The deal was prepared by Sberbank CIB in cooperation with Sberbank of Russia.
Vadim Logofet, Managing Director - Senior Banker, Corporate Clients Division, Client Management Department, Sberbank CIB, said: "Our collaboration with RusHydro Group is a bright example of a long-term and mutually beneficial partnership. This transaction is another reminder of the strength of Sberbank CIB's strategy to provide its clients with a complete line of financial instruments and solutions. We value our companies' long lasting and strong relationship, which we expect to continue to develop as we help RusHydro Group implement its plans."
Member of the Management Board of JSC RusHydro, Konstantin Bessmertny said, "Attractive commercial lending terms offered by Sberbank CIB will protect RusHydro from various market trends and the current situation on debt capital markets."