Sovcombank takes first ESG facility as Russian corps extend green pivot
Russia’s Sovcombank has entered the ESG loan market for the first time, raising a $350m syndicated loan. An increasing number of Russian corporates are turning to the green financing sector as a way to diversify funding.
The $350m dual tranche syndicated loan consists of a 12 month and an 18 month tranche.
Commerzbank, HSBC, ING, Rosbank, Russian Regional Development Bank and UniCredit were mandated lead arrangers and bookrunners.Bank Zenit and Eurasian Development Bank were mandated lead arrangers, while Banca Intesa, Credit Suisse and the ...