OREANDA-NEWS. November 07, 2011. Sberbank of Russia (RTS: SBER, MICEX: SBER03) borrowed USD 300,000,000 pre-export financing from Citibank Europe Plc. The proceeds from the facility were on-lent to Sberbank’s corporate client – OJSC “OHK Uralchem”, reported the press-centre of Sberbank.

This loan is the biggest one in terms of structure and size, provided to Sberbank by a sole Lender for the purposes of pre-export financing.

Andrey Donskih, Deputy Chairman of the Board, Sberbank, said: “Conclusion of this deal for OJSC “OHK Uralchem” proves that Sberbank enjoys high degree of trust from Citibank – one of our leading partners in trade finance, what is especially important during high market volatility. Development of trade finance allows Sberbank to offer its corporate clients the best possible lending terms in foreign currencies.”

Zdenek Turek, President of ZAO Citibank, said: “Trade finance has wide perspectives in Russia and it significantly contributes to the country’s economic growth. We are happy to partner again with Sberbank on this outstanding deal under strategic partnership between Sberbank and Citibank in various lines of business.”