Moscow, 9 December 2014. SIBUR and Sberbank CIB have signed a five-year non-revolving credit facility agreement for RUB 42 bn. The funds are to be used for general corporate purposes.
Pavel Malyi, CFO of SIBUR, said: "SIBUR and Sberbank CIB’s facility agreement is yet another affirmation of SIBUR's creditworthiness. This long-term financing was raised as part of our continued efforts to improve our loan portfolio and ensure reliable access to long-term liquidity, which will increase the Company’s financial sustainability."
Kirill Polishkin, Acting Head of Sberbank CIB’s Client Management Department said: "The deal is a logical step forward given our long-standing and productive partnership with SIBUR. We value our relationship with one of the country's largest petrochemical companies and consistently support our client's projects by providing them with the full range of financial solutions and services".
SIBUR is a unique vertically integrated gas processing and petrochemicals company. SIBUR owns and operates Russia’s largest gas processing business by associated petroleum gas processing volumes, and is a leader in the Russian petrochemicals industry. SIBUR operates 26 production sites located throughout Russia and employs over 26,000 staff. SIBUR has over 1,400 large customers engaged in the energy, chemical, fast moving consumer goods (FMCG), automotive, construction and other industries in approximately 70 countries worldwide.
The Corporate & Investment Banking Business (Sberbank CIB) was created as part of the integration of Sberbank of Russia and Troika Dialog. Sberbank CIB’s key areas of activity are corporate finance (including trade finance), the documentary business, investment banking services, trade operations with securities, and private equity. Sberbank of Russia’s Corporate & 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.
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