Acron and Sberbank sign loan agreements
Russia’s Sberbank has provided a US$100mn loan to fertiliser firm Acron to fund its trade finance operations.
The deal will cover loan agreements, non-revolving credit facility agreements and uncovered letters of credit with a term of up to eight years.
The loan’s proceeds will be used to import equipment and upgrade Acron’s technological equipment as part of its large-scale investment programme.
Andrey Ivanov, head of trade financing and financial institutions at Sberbank says: “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.”
Reader Comments