Sberbank CIB1, the corporate and investment banking business of Sberbank, announces the signing of a RUB 80 bln loan agreement with leading Russian telecoms operator MegaFon PJSC. Under the agreement Sberbank has already provided the company two tranches of financing worth RUB 25 bln.
The loans, worth 15 bln and 10 bln roubles, have been provided at a fixed interest rate for four years and five years, respectively. MegaFon intends to use this money to finance the Group’s general corporate purposes, and if necessary, to finance the ordinary share and GDR buyback programme.
Senior Vice President and Head of Sberbank CIB Igor Bulantsev commented: “We highly value our long-standing relationship with MegaFon and are pleased to support the company in carrying out its strategic objectives.”
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.
The Bank holds the general banking license No.1481 issued by the Bank of Russia. Official websites of the Bank: www.sberbank.com (Sberbank Group website), www.sberbank.ru.
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.
1 On the basis of JSC “Sberbank CIB” and Sberbank
2 Banking products and services provided by Sberbank