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RusVinyl Project Finance is announced Deal of 2011

December 21/2011
(Sibur) -- The RusVinyl project finance deal between RusVinyl, SIBUR, SolVin and a group of international banks was recognised as the stand-out European deal in the petrochemical sector of 2011, according to the renowned British finance publication Project Finance International.
In June of 2011, RusVinyl signed a credit 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 security of COFACE and ONDD, the French and Belgian export credit agencies. The insurance provided by these export agencies ensures the supply of equipment, licences and the services of OSJC RusVinyl's French and Belgian partners.

RusVinyl LLC is a joint enterprise established on the basis of a partnership between CJSC SIBUR holding and SolVin for the purposes of the construction of a polyvinylchloride (PVC) production plant in Kstovsky area, Nizhny Novgorod region, with the capacity to produce 330,000 tonnes a year.

Author:Marina Ivanova
Category:General News
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