22.03.2016, 00:48
Sberbank CIB's Deal with Sovcomflot Receives International Award
OREANDA-NEWS. The deal between Sberbank CIB and Sovcomflot Group to finance1 the construction of tankers worth $340 mln has been recognised by Marine Money magazine as one of the top deals of 2015. The transaction was named "Project Financing Deal of the Year 2015 - West".
The publication believes that it is a unique transaction, as it paves the way for new opportunities to invest in the industry. Marine Money also noted that Sberbank is the first Russian bank to undertake a ship financing agreement.
In December 2015, Sovcomflot Group and Sberbank CIB signed a 14-year $340 mln loan agreement to finance a project to provide marine transportation of crude oil from the Novoportovskoye field (project operator - Gazprom Neft PJSC), one of the largest oil and gas condensate fields on the Yamal Peninsula. The project will create the infrastructure required for year-round shipment of crude oil via Sovcomflot Group's advanced ice-class shuttle tankers through the stationary export terminal in the Gulf of Ob. The deal was carried out by the Transport Division of Sberbank CIB's Client Management Department.
Oleg Ganeev, Deputy Chairman of the Executive Board of Sberbank and Head of Sberbank CIB, commented: "This award from Marine Money is another testament to the fact that our deal to finance Sovcomflot was one of last year's landmark transactions. The deals that our specialists work on have received accolades from the expert community multiple times. In 2015 we received Deal of the Year from prestigious international publications such as EMEA Finance and Infrastructure Journal. We supported one of the strategic initiatives of the Russian economy, and the world-class professionalism of our team was once again recognised on a global level."
Marine Money is an authoritative industry publication that has been covering financing of the shipping business for more than 25 years. The magazine provides readers with an in-depth analysis of shipping finance deals, rankings of shipping companies, detailed presentations of banking strategies and portfolios, and hands out awards every year for the market's best deals.
The publication believes that it is a unique transaction, as it paves the way for new opportunities to invest in the industry. Marine Money also noted that Sberbank is the first Russian bank to undertake a ship financing agreement.
In December 2015, Sovcomflot Group and Sberbank CIB signed a 14-year $340 mln loan agreement to finance a project to provide marine transportation of crude oil from the Novoportovskoye field (project operator - Gazprom Neft PJSC), one of the largest oil and gas condensate fields on the Yamal Peninsula. The project will create the infrastructure required for year-round shipment of crude oil via Sovcomflot Group's advanced ice-class shuttle tankers through the stationary export terminal in the Gulf of Ob. The deal was carried out by the Transport Division of Sberbank CIB's Client Management Department.
Oleg Ganeev, Deputy Chairman of the Executive Board of Sberbank and Head of Sberbank CIB, commented: "This award from Marine Money is another testament to the fact that our deal to finance Sovcomflot was one of last year's landmark transactions. The deals that our specialists work on have received accolades from the expert community multiple times. In 2015 we received Deal of the Year from prestigious international publications such as EMEA Finance and Infrastructure Journal. We supported one of the strategic initiatives of the Russian economy, and the world-class professionalism of our team was once again recognised on a global level."
Marine Money is an authoritative industry publication that has been covering financing of the shipping business for more than 25 years. The magazine provides readers with an in-depth analysis of shipping finance deals, rankings of shipping companies, detailed presentations of banking strategies and portfolios, and hands out awards every year for the market's best deals.
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