Sberbank, Gazprombank, ING, UniCredit extend syndicated loan to Ukraine firm

By Andrei Skvarsky.

Russia’s Sberbank CIB and Gazprombank, the Netherlands’ ING Bank and Italy’s UniCredit have provided a syndicated credit line to a total of 416m for DTEK, Ukraine’s largest energy company.

Sberbank is represented in the deal by Sberbank CIB, a former division of Troika Dialog that has become a corporate and investment unit of Russia’s biggest lender in the course of the latter’s ongoing merger with Troika.

ING acted as documentation agent and UniCredit as information agent in the transaction, Sberbank said in a statement.

The loan is to come in two tranches with tenors of three and five years.

DTEK, which is a coal mining and electricity generating firm, is to use the money for modernisation and other purposes.

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