Sberbank CIB1, the corporate and investment banking business of Sberbank, has signed a loan agreement with a RUB 29 bln limit with Optima Development Group to finance the construction of business-class residential quarter Prime Park on Moscow’s Leningradsky Avenue.
Prime Park is a ten-block high-rise residential quarter. The concept of the project involves the creation of a new six-hectare urban park and recreational area that includes a private park for residents and areas that are open to the public. The project also includes the creation of a school for 800 children, a nursery for 375 pre-schoolers, shops, restaurants, cafes, beauty salons and a fitness centre.
“Infrastructure-heavy projects usually need long-term financing. At Sberbank CIB we are ready to create customised product solutions for each client – for example, this project has a 10.5-year lending term,” commented Natalya Shemanovskaya, Managing Director and Head of the Real Estate Division of Sberbank CIB’s Largest Clients Coverage Department
Optima Development (100% owned by Albert Khudoyan) carries out leading commercial, multifunctional and residential real estate projects. The company’s portfolio includes full-cycle projects – from concept design to construction and further operation.
Sberbank 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 145 million customers in 20 countries. Sberbank has the largest distribution network in Russia with almost 15,000 branches, and its international operations include UK, US, CIS, Central and Eastern Europe, India, China, Turkey and other countries.
Sberbank CIB is the corporate and investment banking business of Sberbank. Its key areas of activity are corporate finance (including trade finance), the documentary business2, investment banking services, trade operations with securities, and private equity. Sberbank’s corporate and investment banking business provides integrated financial solutions and investment advisory services to its clients, which include major corporations, financial institutions, sovereign states and federal and sub-federal government bodies and organisations.