EXIAR partners with Gazprombank to insure shipments by Russian agricultural leader
The Russian Agency for Export Credit and Investment Insurance (EXIAR) has provided buyer credit insurance as part of a financing program for agricultural exports to Europe.
The buyer credit insurance policy was agreed to by EXIAR and Gazprombank. As part of the deal, EXIAR insured Gazprombank's loan of approximately $150 million issued to pay for agricultural exports by Russia’s leading agricultural company, the Sodrugestvo Group.
EXIAR’s buyer credit insurance is provided to a bank (international or Russian) that makes a loan to an overseas Buyer (Borrower) to finance the purchase of goods and/or services from a Russian Exporter.
Nikita Gusakov, Managing Director of Business Development and Underwriting at EXIAR, stated “this deal is one of the largest in EXIAR’s agricultural portfolio. We will continue to develop our partnership with Russian exporters who produce agricultural equipment. Increasing the volume of non-commodity exporters will not only allows us to diversify exports, but also contribute to increasing the quality and competitiveness of Russian goods.”
Sodrugestvo’s Financial Director, Alexander Shenderyuk-Zhidkov, commented, “This deal represents the development of our longstanding and fruitful partnership with EXIAR and Gazprombank. I am certain that the support provided to our clients through this deal will help Sodrugestvo strengthen its position in global markets and significantly increase Russian non-commodity exports.”
Alexey Belous, Gazprombank’s Acting Vice President added, “The Sodrugestvo Group is one of the largest and oldest partners that Gazprombank has in the agro-industrial complex. This deal with EXIAR will allow us to take our professional relationship to the next level. We believe that this deal will stimulate the increase in exports of value-added agricultural products.”
The Russian Agency for Export Credit and Investment Insurance (EXIAR) was established in 2011. EXIAR's mission is to support Russian high-tech exports by insuring export credits against commercial and political risks, as well as Russian investments abroad against political risks. Vnesheconombank is the sole shareholder of EXIAR. The agency's charter capital is RUB 43.5 billion. The State Specialized Russian Export-Import Bank (Eximbank of Russia) is a subsidiary of the Russian Agency for Export Credit and Investment Insurance (EXIAR).
The Sodrugestvo Group is a rapidly growing agroindustrial group that serves international markets. The company consists of four vertically-integrated business units: refineries (to produce proteins and oils from plants and animals), sale of agricultural goods, specialized infrastructure (including deep water ports), and logistics (including rail and warehouse facilities).
Gazprombank (JSC) is one of Russia’s largest universal financial institutions that provides a wide range of banking, financial, and investment products and services to corporate and individual clients, institutions, as well as institutional and individual investors. The bank is one of the top three largest banks in Russia by all key indicators and ranks third in equity among Central and Eastern European banks.
The bank serves companies from key sectors of the Russian economy. Another strategically important aspect of the bank’s activities is the retail industry, the size of which continues to grow. Gazprombank has a strong presence in Russian and international financial markets; it is one of Russia’s top banks for organizing and underwriting the issuance of corporate bonds, asset management for individual bank services, corporate financing, and other areas of investment banking. Gazprombank counts among its clients approximately 4 million individuals and 45,000 corporate entities. Gazprombank currently owns seven subsidiary banks in Russia, Belarus, Armenia, Switzerland, and Luxembourg. It also has offices in Astana (Kazakhstan), Beijing (China, Ulan-Bator (Mongolia), and New Delhi (India). In Russia, 31 branches makes up Gazprombank’s regional network. More than 500 offices offer high-quality banking services. Gazprombank is a member of the Russian National Committee of the International Chamber of Commerce. For more information, please visit www.gazprombank.ru/eng
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