Sberbank and Volga-Dnepr Airlines signed an agreement of intent to provide financing at the 21st Saint Petersburg International Economic Forum. The document was signed by Sberbank’s Senior Vice President and Head of Sberbank CIB Igor Bulantsev and Senior Vice President of Volga-Dnepr Group Sergei Shklyanik.
Under the agreement of intent, Sberbank will provide Volga-Dnepr Airlines with a $265 mln non-renewable credit line for a term of five years. Volga-Dnepr Group will use the financing for general corporate purposes.
“Volga-Dnepr Group is one of our key clients, and we place great importance on our cooperation,” said Sberbank’s Senior Vice President and Head of Sberbank CIB Igor Bulantsev. “At last year’s Saint Petersburg International Economic Forum we signed a strategic cooperation agreement at the, including on financing the airline’s projects. This agreement is another stage of developing our mutually beneficial relations. Apart from cooperation as part of the provision of financing by the Bank and optimisation of the debt portfolio, we are implementing projects in the area of the provision of comprehensive financial services for companies that are members of Volga-Dnepr Group.”
Senior Vice President of Volga-Dnepr Group Sergei Shklyanik said: “Sberbank is our main financial partner. As part of our strategic cooperation agreement we have carried out several transactions to finance the purchase and leasing of aircraft made by domestic and overseas producers. This agreement is an example of the practical realisation of strategic cooperation.”
Information for editors
Volga-Dnepr Group is a world leader in the unique, oversize and heavy cargo market, and Russia’s largest air freight carrier.
Volga-Dnepr Airlines performs chartered freight transportation as part of the Group. Its fleet includes 12 AN-124-100 Ruslans and five IL-76TD-90VD freighters, which meet all existing and future ICAO requirements, and has approval for worldwide operations without limitations. AirBridgeCargo (ABC) performs regular freight transportation. Its fleet currently includes 20 aircraft from the Boeing 747 family and three Boeing 737-400SFs. Volga-Dnepr Technics (VDT) is the Group’s third specialised unit. VDT is a supplier of maintenance and repair services for both Russia- and foreign-built aircraft.
Volga-Dnepr Group Public Relations
Head of Public Relations
Tel. +7 (495) 755-91-32
The company’s official site is www.volga-dnepr.com
Sberbank is Russia’s largest bank and a leading global financial institution. Sberbank holds almost one third of aggregate Russian banking sector assets, it is the key lender to the national economy and the biggest deposit taker in Russia. The Central Bank of the Russian Federation is the founder and principal shareholder of Sberbank owning 50% of the Bank's authorized capital plus one voting share, with the remaining 50% held by domestic and international investors. Sberbank has more than 145 million customers in 22 countries. Sberbank has the largest distribution network in Russia with almost 15,000 branches, and its international operations include UK, US, CIS, Central and Eastern Europe, India, China, Turkey and other countries.
Sberbank CIB1 is the corporate and investment banking business of Sberbank. Its key areas of activity are corporate finance (including trade finance), the documentary business2, investment banking services, trade operations with securities, and private equity. Sberbank’s corporate and investment banking business provides integrated financial solutions and investment advisory services to its clients, which include major corporations, financial institutions, sovereign states and federal and sub-federal government bodies and organisations.
Sberbank Press Service
Tel: +7 (495) 957-57-21