Sberbank CIB Opens Second Line of Credit for INTECO Group
OREANDA-NEWS. Sberbank CIB has signed an agreement with INTECO Group on the financing of construction of the 146,000 sq. m "Liner - Zapad" Multifunctional Complex in the Khodynskoe Polye neighbourhood. This line of credit totals RUB 6.8 bln. The agreement was signed for a period of 4.5 years.
On behalf of Sberbank CIB this deal was structured by the Real Estate Finance Division and Sberbank Merchant Banking, Sberbank CIB's merchant banking department. A separate agreement on the financing of the "Liner - Vostok" Multifunctional Complex was signed in March of 2014, also worth RUB 6.8 bln.
Kirill Polishkin, Deputy Head of the Client Management Department at Sberbank CIB commented: "Our long-term cooperation is taking shape in practical steps, and with our financial support the construction of the 'liner' complex, the capital's next large-scale development project is underway. Sberbank CIB is constantly striving to strengthen its leading position in the real estate finance market and to create new opportunities for the development of the Russian construction industry."
Victor Shlepov, Financial Director at INTECO CJSC, said: "All projects with financing from Sberbank CIB follow strict implementation schedules. We are satisfied with the progress of our collaboration with Sberbank CIB's highly professional team, which began this year, and we are confident that it will allow us to expand our presence in the Moscow market."