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A&O advises U.S., European, Russian and Asian banks on two major Russian-related FI loans totalling USD850 million

28 March 2014

Navigating complicated Russian market circumstances, Allen & Overy’s Moscow team recently advised two syndicates of lenders on new loan facilities for Sberbank Europe AG (an Austrian bank owned by the state-owned Sberbank of Russia) and Credit Bank of Moscow (a privately owned Russian bank). 

The Sberbank Europe facility was led by Barclays Bank PLC as documentation agent and Commerzbank AG as facility agent. Barclays Bank PLC, Commerzbank AG and ING Bank N.V. acted as joint co-ordinators with ING Bank N.V. acting as publicity agent and the syndicate also included Bank of America Merrill Lynch, Citibank, HSBC Bank plc, ING Bank N.V., J.P. Morgan Limited, Mizuho Bank, Ltd., Sumitomo Mitsui Banking Corporation and UniCredit Bank Austria AG as MLAs. 

Commerzbank AG as documentation agent and joint co-ordinating mandated lead arranger led the Credit Bank of Moscow transaction, with ING Bank N.V. as joint co-ordinator, facility agent and publicity agent and, among others, Citibank, HSBC Bank (Russia), ICBC (Moscow), ING Bank N.V., Morgan Stanley, Raiffeisen Bank International AG, Rosbank, Sberbank of Russia, UniCredit and VTB Bank (Deutschland) AG as lenders.

The A&O team was led by partners Elena Tchoubykina and Stephen Matthews, as well as senior English-qualified associate Oleg Khomenko.  Elena, Stephen and Oleg were supported by associates Hugh Mathison and Mikhail Novozhilov, as well as trainee solicitor, Oscar Mitchell.

For further information, please contact Stephen Matthews, stephen.matthews@allenovery.com, on +7 495 725 7900.