By Andrei Skvarsky.
Sberbank, Russia’s biggest lender, has bought an $80m stake in a syndicated mezzanine loan extended to Russian company O1 Group, one of the biggest owners of Russian non-state pension funds and a manager of commercial real estate.
The purpose of the mezzanine financing project is to help O1, a private equity and venture capital firm whose business extends to Central and Eastern Europe, to refinance a $200m loan that was taken out by the company in 2014 and matured in May 2017, Sberbank said in a statement.
The mezzanine loan, which matures in April 2020, is secured by O1 Properties, a commercial real estate investment company and member of O1 Group.
The business of O1 Group, which is based in Moscow and has an additional office in Cyprus, includes early-stage investment in large companies.
Joining the lender syndicate makes Sberbank an investor in O1 Group and a co-agent of the loan.
Sberbank is a Moscow-based giant with an extensive international network.