OREANDA-NEWS. Sberbank CIB and MLP Group reach preliminary agreement on USD 116.8 mln in financing for MLP Podolsk over seven years.

The company plans to direct the funds towards developing the MLP Group’s investment program. The deal was prepared by the joint Sberbank CIB team and Srednerussky Bank of Sberbank of Russia. Sberbank CIB structured the deal.

Commenting on the deal, Michel Pascalis, CEO of Multinational Logistics Partnership said: “This credit will allow us to strengthen our position as one of the leading developers in the Moscow market. In the less than two years of collaboration with the Sberbank Group, the MLP Group has been extended lines of credit of over \\\\$500 mln. We are grateful to Sberbank CIB for the financial support of our development projects and thank them for their productive collaboration and effective cooperation with our Group.

Dmitry Kanushkin, Senior Banker at Sberbank CIB, said: “This is one of the landmark deals in the Russian market for financing warehouse real estate and we are pleased to have taken part in it. We have been collaborating closely with the MLP Group for a number of years and remain interested in possibilities for financing future, large-scale development projects.”