EXIAR insures financing for Slovenské elektrárne
Sberbank CIB, the corporate and investment business arm of the Sberbank Group in close cooperation with Sberbank International Business, Sberbank Slovensko, a.s. and Sberbank CZ, a.s. provided the dual currency term loan facility for Slovenské elektrárne, a.s., (a subsidiary of the Enel Group), Slovakia’s largest energy company, worth EUR 870 million for a term of 7.5 years. The Facility includes a EUR 300 million tranche insured by the Export Insurance Agency of Russia (EXIAR).
The deal is the Agency’s largest issuance of export credit in Eastern Europe.
Sberbank Group estimates Slovak market as a key prioritized in terms of business development in Eastern Europe. Group strategy of business presence in CEE foresees strong commitment to support European corporate clients of Sberbank both involved in cooperation with Russian counterparts and investing on local market as well.
The agreement was signed by CEO and Chairman of the Board of Sberbank of Russia Herman Gref, CEO of Sberbank CZ, a.s. Vladimir Solc, CEO of Sberbank Slovensko, a.s. Rastislav Murgas and the General Manager of Slovenské elektrárne, a.s. Luca D'Agnese. The signing ceremony was attended by CEO of EXIAR Petr Fradkov.
“For Sberbank, energy has always been one of the priority sectors for financing and we are happy to expand our cooperation with one of the world’s largest energy holdings despite the turbulent economic times that the Russian economy is experiencing. We plan to continue to expand our cooperation with the largest European companies,” noted Herman Gref, CEO and Chairman of the Board of Sberbank of Russia.
Sberbank of Russia is Russia’s largest bank and a leading global financial institution. Sberbank holds almost one third of aggregate Russian banking sector assets, it is the key lender to the national economy and the biggest deposit taker in Russia. The Central Bank of the Russian Federation is the founder and principal shareholder of Sberbank owning 50% of the Bank's authorized capital plus one voting share, with the remaining 50% held by domestic and international investors. Sberbank has more than 110 million individual customers and 1 million corporate clients in 22 countries. Sberbank has the largest distribution network in Russia with more than 18,000 branches, and its international operations include UK, US, CIS, Central and Eastern Europe, Turkey and other countries. The Bank holds the general banking license No.1481 issued by the Bank of Russia. The official website is www.sberbank.ru.
Export Insurance Agency of Russia (EXIAR) was founded in October 2011as an open joint-stock company. The main goal of the agency is to support high-tech exports by insuring export credits against credit and political risks and insuring Russian foreign investments against political risks. Vnesheconombank is the sole shareholder of EXIAR. The Agency has an authorised capital of 30 bln roubles.
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