Sberbank CIB has arranged a financial facility for Antipinsky Oil Refinery and NewStreamTrading AG totaling $1,75 billion for the period of 10 year. The bank refinances the current credit portfolio and provides funds for completing modernization of the refinery what will make it possible to considerably improve the product range of petrochemicals for the clients, raise refining margins, and meet the deadlines scheduled for the enterprise’s modernization.
Deputy Director of Client Management Department, Managing Director of Sberbank CIB Kirill Polishkin has noted:
This was undoubtedly a unique transaction, which required flexibility, promptness, and good coordination of the participants for its successful implementation. I would like to point out that the efficient closing of transactions like this has become common practice for Sberbank because the market of today requires non-standard solutions. We want to thank the management board of Antipinsky Oil Refinery CJSC for selecting Sberbank CIB as its strategic partner.
Chairman of the Board of Directors of Antipinsky Oil Refinery CJSC Dmitry Mazurov has emphasized: “Antipinsky Oil Refinery CJSC is really a unique enterprise. For the first time in more than 30 years we have managed to build from scratch a private refinery with the annual capacity exceeding 7.5 million tons and it has taken us just nine years to do so. Nowadays Antipinsky Oil Refinery has already become a Russian National brand. The funds provided by Sberbank CIB will be channeled for further development and modernization of the enterprise in order to considerably improve the quality and enlarge the range of products.”