The RusVinyl project financing deal, signed by RusVinyl, SIBUR, SolVin and a group of international banks, has been named the Best Deal of the Year 2011 by the British financial publication Global Trade Review in the "ECA-backed project financing in Russia" category.
In June of 2011, RusVinyl signed a multifacility loans agreement for the provision of project finance to the order of 750 million Euro for a period of 12.5 years for the construction of Russia's largest integrated polyvinylchloride (PVC) production plant with the capacity to produce 330,000 tonnes a year. Financing is provided by a group of banks representing the largest global financial institutions, including Sberbank of Russia, the European Bank of Reconstruction and Development, BNP Paribas, ING Bank N.V. and HSBC.
As part of the signed agreement, 150 million Euro has been made available by Sberbank of Russia and the European Bank of Reconstruction and Development each, 450 million Euro by BNP Paribas, ING Bank N.V. and HSBC, against the cover of COFACE and ONDD, the French and Belgian export credit agencies. The insurance cover provided by these export credit agencies ensures the supply of equipment, licenses and the services of RusVinyl's French and Belgian partners.
Global Trade Review is a leading international trade finance publication. Every year the magazine awards prizes for the best deals achieved with the support of the trade and export finance banking industry.