Sovcombank enters $350 million syndicated facility with ESG tranche

By Cady Vishniac

Detroit, Jan. 20 – Sovcombank PJSC has entered into a syndicated $350 million facility with two tranches, according to a press release.

The loan amount was upsized from an initial $200 million.

The first tranche has a maturity of one year, while the second tranche has a maturity of 18 months. One of the tranches calculates interest according to environmental, social and governance factors.

The mandated lead arrangers and bookrunners were AO UniCredit Bank, Commerzbank AG (Filiale Luxemburg), HSBC Bank plc, ING Bank (Eurasia) AO, JSC Russian Regional Development Bank and PJSC Rosbank.

Eurasian Development Bank and PJSC Bank Zenit were mandated lead arrangers. Banca Intesa, Credit Suisse (Switzerland) Ltd. and the International Bank for Economic Co-operation acted as lead arrangers. ING Bank N.V. was the coordinator and facility agent, and HSBC Bank plc was the ESG coordinator.

The Bank will use the funds to finance its foreign trade operations and general corporate purposes, and its Halva BNPL platform.

Sovcombank is based in Moscow.

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