OREANDA-NEWS. August 22, 2014. Sberbank CIB organized a revolving line of credit worth RUB 15 bln for a period of three years for Magnit Group.

The funds will be used to finance the company’s working capital.

“We are sure that this deal is another step in the expansion of our cooperation with our long-term partner,” Dmitry Sredin, Managing Director, Client Management Department, Sberbank CIB. “Magnit Group is a strong player with a clear development strategy for the consumer sector; the company looks particularly promising in the current situation and Sberbank is one of only a few banks capable of handling a deal of this size.”