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2011-09-30 | SBERBANK OF RUSSIA JOINTLY WITH THE INTERNATIONAL GROUP OF CREDITORS ARRANGES A USD 120 M SYNDICATED FACILITY FOR SMR GROUP
September 30, 2011, Moscow — Moscow branch of Sberbank of Russia acting jointly with ING Bank N.V., Raiffeisen Bank International AG and VTB Bank (Deutschland) AG has arranged a USD 120 M syndicated facility for SMR Group of companies.
Sberbank’s share in the syndicated facility amounts to USD 50 M. Credited funds will be used for refinancing of the Group’s current loan portfolio.
“Financing SMR Group through a syndicated facility is a further proof of Sberbank’s focusing on developing specific sector of the Russian economy by providing financial instruments that are in demand on the market of financial products and services”, - said Mr. Sergey MELAMED, Head of Key Account Management Department of Moscow branch of Sberbank of Russia.
“Refinancing of the loan portfolio of the Group, - said Mr. Pavel KRASOVSKIY, SMR CEO, - will significantly strengthen our position and reduce financial risks. Also, it enables the Company to continue its successful operation and commence development of Agaskyr copper-molybdenum prospect in the Republic of Khakasia. The appropriate license was acquired in September this year”.
Company profile:
Strikeforce Mining and Resources Ltd (SMR is a part of En+Group, www.smr-company.ru) incorporates a group of companies engaged in exploration, mining, beneficiation and smelting of minerals and ferromolybdenum production. SMR Group is the Russian biggest ferromolybdenum producer. Main SMR assets are OOO Sorsk Ferromolybdenum Plant (LLC), OOO Sorsk Mining and Processing Plant (LLC), OOO Zhireken Ferromolybdenum Plant (LLC), and OAO Zhireken Mining and Processing Plant (JSC)).
Sberbank of Russia is the largest credit institution in Russia, Central and Eastern Europe, accounting for 27% of the aggregate Russian banking assets, and the key lender to the national economy. Sberbank’s promoter and its principal shareholder is the Central Bank of Russia (57.58% voting shares). Rest of the shares are owned by over 245 K individuals and legal entities. Sberbank has the largest countrywide branch network in Russia with 17 regional head offices and more than 20,000 retail outlets and corporate departments. Sberbank, also, operates subsidiary banks in Kazakhstan, Ukraine, and Belarus.
Full banking license issued by the Bank of Russia is a permit for 1481 banking transactions.
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