OREANDA-NEWS. Sberbank CIB has organised a 5-year credit line for Pioneer Group with a RUB 12 bln limit. The funds will be used to finance the construction of residential complex LIFE-Botanichesky Sad in an actively developing neighbourhood in north-east Moscow with good transport accessibility.

The 238,000 m2 residential complex will include nine blocks of flats with attractive views, spacious terraces and high-quality turnkey finishes. LIFE-Botanichesky Sad will have a highly developed infrastructure: a heated underground garage, guest parking, shops and service providers on the ground floors of the complex, a nursery school for 240 children and a school for 550 children. Landscaped courtyards with walking zones, playgrounds and areas for sport will all be available to future residents.

"The credit line for Pioneer Group in these economic conditions confirms Sberbank's interest in calculated development projects," said Andrey Tyutchenko, Chief Financial Officer of Pioneer Group. "From the point of view of end-users Pioneer Group's cooperation with major banks in Russia is evidence of the company's reliability as a borrower."

"Our mutually beneficial cooperation with strategic partner Pioneer Group began in 2006," commented Natalia Shemanovskaya, Managing Director, Head of Construction and Development Division at Sberbank CIB. "Since then Sberbank has assisted with the construction of four residential complexes in the north-west and south-west of Moscow. Financing for the Pioneer Group's latest modern residential real estate project not only shows that our strategic partnership with the Group is broadening, but also is another example of our comprehensive approach to providing financial solutions to clients."

In December 2013, Pioneer Group and Sberbank CIB signed a long-term strategic partnership agreement on improving the efficiency of the Group's activities. Under the agreement, Sberbank CIB will provide comprehensive investment banking and consulting services on Russian and global markets, organise deals on capital and debt markets, as well as cooperate on financing for Pioneer Group's activities, banking services and cooperation as part of marketing initiatives.