OREANDA-NEWS. Sberbank CIB and PJSC SIBUR Holding have signed a five-year credit facility agreement for RUB 42 bln. The funds are to be used for general corporate purposes. The deal was completed thanks to interaction between Sberbank CIB divisions, including the Client Management Department and Loans Department.

Kirill Polishkin, Acting Head of Sberbank CIB's Client Management Department commented: "The deal is a logical step forward given the long-standing and productive partnership between Sberbank CIB and SIBUR Group. We value our relationship with one of the country's largest petrochemical holding companies and consistently support our client's projects by providing them with the full range of financial solutions and services."

"SIBUR and Sberbank CIB's facility agreement is yet another affirmation of SIBUR's creditworthiness. This long-term financing was raised as part of our continued efforts to improve our loan portfolio and ensure reliable access to long-term liquidity, which will increase the company's financial sustainability," commented Pavel Malyi, CFO of SIBUR.

SIBUR is a unique vertically integrated gas processing and petrochemicals company. SIBUR owns and operates Russia's largest gas processing business by associated petroleum gas processing volumes, and is a leader in the Russian petrochemicals industry.