Home  Issuers' Corner  Press Releases  Sberbank of Russia
CLOSE

Press Releases > Sberbank of Russia  all about the company

company search
all press releases
all Sberbank of Russia press releases

Sberbank of Russia

October 25, 2004

Sberbank and ING Group signed the Credit Line Agreement for EURO 350 mln

Sberbank and ING Group have signed a EUR 350m credit line agreement. The agreement provides a legal framework for the funding of individual transactions of Russian corporates, with tenors of more than 5 years.
The credit line will finance the export of capital goods and related services from ING’s base of European customers to importers banking via Sberbank and it’s extensive branch network covering the Russian Federation, and will also provide long-term financing for project ventures between clients of the two banks.
The agreement was signed by Michel Tilmant, Chairman of ING Group, and Andrei I. Kazmin, Chairman of the Board and CEO of Sberbank, at ING House in Amsterdam.
The signatories consider that the agreement will benefit both Russian and European corporates, boosting Russian-European trade flows, as well as encouraging further joint projects. The financing agreement is backed by Export Credit Agencies, ensuring Russian companies are provided with long term financing at competitive interest rates. The agreement envisages the financing imports to Russia from Austria, Belgium, Germany, Denmark, Spain, Italy, Netherlands, Poland, Finland, France, Czech Republic, Sweden, Switzerland and other countries.
The Agreement with the ING Group banks will expand the range of bank products offered by Sberbank for financing long-term investment programs of its clients on favourable terms, whereas the corporate clients of Sberbank and of its regional branches will have one more instrument available for financing their investment projects.

 

Sberbank's Press Service

 

 

 

Search by industry

Agriculture, Foresty and Fishing | Chemicals | Engineering | Ferrous Metals | Financial, Insurance & Real Estate | Food & Kindred Products | General Construction | Information Technology | Media & Publishing | Non-Ferrous Metals | Oil & Gas | Pharmaceuticals | Power Industry | Precious Metals and Diamonds | Telecommunications | Transportation | Wholesale & Retail Trade

Search by alpha index

A B C D F G H I K L M N O P R S T U V W X Z



Site Map
© RUSTOCKS.com
Privacy Statement | Disclaimer