Sberbank makes 26m-euro unsecured loan to engineering firm

Sberbank, Russia’s biggest lender, has extended a seven-year unsecured loan of 26m euros to HMS Group, a Moscow-based manufacturer of pumps, compressors and oil and gas equipment.

The fixed-rate loan, which comes with a three-year grace period, has been structured by Sberbank-CIB, a division that was part of Troika Dialog before the Moscow brokerage was taken over by Sberbank, according to a statement from the lender.

The loan will replace an outstanding two-year bridge loan taken out by HMS in August this year for the acquisition of Apollo Goessnitz, a German manufacturer of centrifugal pumps.

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