EXIAR’s insurance coverage allowed the Luxembourg branch of Sodruzhestvo Group to receive export financing for $ 120 M
The insurance coverage offered by EXIAR JSC allowed Bank Saint Petersburg PJSC to provide Intergrain S.A. (Luxembourg, Sodruzhestvo Group) the loan with a limit of $ 120 M on the most favorable terms. Additional financing will allow the Sodruzhestvo Group to increase exports of its products.
“This project is already the 4th deal to finance for the Luxembourg branch of Sodruzhestvo Group under the Agency’s insurance coverage. The total volume of export supported under these transactions will amount to at least $ 700 M” Nikita Gusakov, General Director of EXIAR JSC, Senior Vice President of REC JSC. “EXIAR’s insurance coverage allows Sodruzhestvo Group to attract financing on more favorable terms and, thus, to develop the business, increasing the volume of export supplies. "
“For 26 years now, Sodruzhestvo Group has been a symbol of reliability and constant development. We have all the prerequisites for success. They allow us to bring oilseed processing products, which meet the highest quality standards, to the rapidly developing global markets. We also need our financial partners to be reliable and stable. We value the experience and professionalism of the teams of Bank Saint Petersburg and EXIAR JSC. Long-term cooperation with one of the leading Russian banks and the leader of the Russian export credit insurance market is an important component of Sodruzhestvo Group’s strategy associated with the promotion on foreign markets,” Artyom Pozdnyakov, Head of the Treasury of the Sodruzhestvo Group.
The Sodruzhestvo Group is one of the largest exporters of agricultural products in Russia ( $ 1.25 B in exports) and the leading supplier of ingredients for animal feed in the country (the group ensures the supply of 15% of the total animal feed needs in Russia). The bulk of exports are products of soybeans and rapeseed deep processing. For more information about Sodruzhestvo Group see https://sodrugestvo.com.
EXIAR JSC is part of the Russian Export Center Group, which also includes REC JSC and Eximbank of Russia JSC. Russian Export Center is part of the VEB.RF Group.