OREANDA-NEWS. January 11, 2012. Sberbank of Russia and Acron Group represented by Acron and NWPC have executed a Master Agreement setting a total limit of USD 100 million for trade financing operations which will cover loan agreements, non-revolving credit facility agreements and uncovered letters of credit with a term of up to 96 months (8 years).  

The loan funds will be spent to finance purchase of imported equipment, including from a Russian supplier (a subsidiary or distributor of a foreign producer).

Andrey Ivanov, Head of Trade Financing and Financial Institutions at Sberbank:

“This transaction is a telling example of the changes being underway in Sberbank. For the first time ever, the bank has provided a complex highly structured product, which includes nearly all available trade and export financing instruments. We are glad that Acron Group, Sberbank’s long-standing partner, is our partner in this transaction. We are convinced that the transaction will help further promote cooperation between Sberbank and Acron Group.”

Oscar Valters, Acron Senior Vice President:

“Acron Group has been a regular customer of Sberbank for over a decade. We highly value our business relations with the bank and would like thank its employees for high professionalism. We also appreciate Sberbank’s participation in challenging investment projects. The financial support provided to Acron Group will help its further growth and technological equipment upgrade as part of a large-scale investment programme envisaging the construction of new facilities.”