OREANDA-NEWS. June 30, 2011. Today, the winners of “Trade Finance” magazine’s prestigious ’‘Deals of the Year 2010’‘ competition were announced.

The ‘‘Tobolsk-Polymer’‘ financing project, which was concluded between SIBUR, Vnesheconombank, and a group of international banks, was chosen as the best deal in 2010 for its use of an innovative financing scheme in Russia.

Vnesheconombank was the main creditor in the project to construct a polypropylene production complex in Tobolsk with a capacity of 500,000 tons per year.

The USD 1,4 billion funding provided by Vnesheconombank for the completion of the project came fr om securing credit support from the largest international commercial and development banks, including Credit Agricole Corporate and Investment Bank (France), Deutsche Bank AG (Germany), Intesa Sanpaolo SPA (Italy), ING Bank N.V. (Netherlands), Sociйtй Gйnйrale Corporate and Investment Banking (France), KFW IPEX-Bank GMBH (Germany) and Sumitomo Mitsui Banking Corporation Europe Lim ited (Japan).

The credit lines drawn by Vnesheconombank for financing the project were provided under a guarantee by export insurance agencies from Italy (SACE) and Germany (Euler Hermes), as well as on a commercial basis. The value of the credit line covered by the export insurance agencies amounted to USD 1.2 billion, while the value of the commercial credit line was USD 221 million.

‘’Trade Finance’’ is one of the most respected international magazines in the field of finance. 345 applications from 52 companies were submitted for the nomination, ‘‘Deal of the Year 2010’‘.