Vnesheconombank and Club of Banks Signed Common Terms Agreement
OREANDA-NEWS. February 02, 2010. State Corporation “Bank for Development and Foreign Economic Affairs (Vnesheconombank)” and a club of banks including Calyon, Deutsche Bank AG, Intesa Sanpaolo SPA, ING Bank N.V., Societe Generale Corporate and Investment Banking (Initial Mandated Lead Arrangers & Bookrunners) and KFW IPEX-Bank GMBH and Sumitomo Mitsui Banking Corporation Europe Limited (Mandated Lead Arrangers) signed a Common Terms Agreement for the total amount of USD 1.49 billion to be on-lent for the financing of the construction of polypropylene production complex in Tobolsk, Tyumen region, Russia, executed by OOO ‘Tobolsk-Polymer” and sponsored by Sibur Holding.
Within the scope of the Common Terms Agreement, a first financing tranche in the form of a Hermes Facility Agreement for the amount of USD 533.8 million was also signed. The aim of the Hermes Facility Agreement is to finance a contract between OOO ‘Tobolsk-Polymer” and Linde-KCA-Dresden GmbH, Germany. The total tenor of the Export Credit Agency (ECA) backed financing under Euler-Hermes insurance is 13.5 years.
Calyon is acting as Global Coordinator and Documentation Agent for the financing and Deutsche Bank as Facility Agent and Hermes Agent.
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