OREANDA-NEWS. October 20, 2014. Sberbank of Russia, on behalf of the Moscow Bank of Sberbank and OJSC Transaero, agreed to develop their strategic cooperation.

Within the framework of this cooperation, a mandate was signed for the organization of a syndicated loan with expected funding of RUB45bn. The purpose of this agreement is to provide a long-term loan.

Previously, Moscow Bank of Sberbank has opened a non-revolving credit line with a limit of RUB800mn for a period of 34 months for OJSC Transaero. The purpose of this credit is a replenishment of the current assets.

“We have been working with the Transaero airline company since 2009, throughout which there has been an effective partnership between Sberbank and Transaero, - noted Maxim Poletaev, First Deputy Chairman of the Executive Board of Sberbank of Russia. - We are pleased to continue our cooperation with a reliable air carrier, which rightfully occupies its deserved place in the world aviation market.”

“We thank Sberbank – the biggest bank in Russia – for this constructive and mutually beneficial cooperation and a most extensive financial programme. The signed agreement increases the opportunity of Transaero to bring to life its development strategy which is about rational growth and increasing the effectiveness in the company’s activity” – said Olga Pleshakova, Transaero Airlines CEO.