ROSBANK AKB OAO Societe Generale Group (Societe Generale and PJSC Rosbank) acted as Initial Mandated Lead Arranger, Bookrunner, Coordinating bank and Joint Documentation Bank for the prepayment facility in favour of PJSOC Bashneft. Moreover Societe Generale acted as Security Agent and Facility Agent while PJSC Rosbank acts as Passport Bank. Bank of China (UK) Limited and ICBC (Europe) S.A. participated in arrangement as well.
The financing facility comes with a five-year tenor and is supported by a term offtake contract with Vitol. Bashneft plans to use the proceeds to fund its general corporate purposes.
This is the largest oil & gas pre-export finance deal in the CIS region for the last year and first financing for Bashneft targeted at raising funds from Chinese banks.
'Bashneft is one of the key Societe Generale clients with long term relationship development. We were keen to be a pioneer in arranging this exclusive type of financing aiming at attracting funds from leading Chinese banks. The success of the transaction was made possible thanks to Bashneft's high credit profile, its long-standing commercial partnership with Vitol S.A., Societe Generale Group's solid structuring capabilities as well as growing appetite of the Chinese banks to the Russia oil and gas sector', Deputy Chairman of the Management Board - Member of the Management Board of Rosbank, Head of Coverage and Investment Banking for Russia/CIS, Societe Generale Corporate & Investment Banking Ilya Polyakov commented.
OAO AKB Rosbank issued this content on 20 January 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 25 January 2016 12:48:04 UTC
Original Document: http://rosbank.ru/en/press_service/news/the_new/news/Societe-Generale-and-Rosbank-led-the-arrangement-of2/
