Sberbank CIB acted as the arranger of the credit line for Pioneer Group with a limit of 12 billion rubles for a period of 5 years. The funds are intended to finance the construction of the residential district LIFE-Botanichesky Sad (Botanical Garden), located in the north-east of Moscow in a dynamically developing area with good transport accessibility.
As part of the residential district with the total area of 238,000 m2 it is planned to construct 9 monolithic buildings with flat with great views, spacious terraces and high quality turnkey finish. The LIFE-Botanichesky Sad complex envisages a well-developed infrastructure: heated underground parking, guest parking, as well as shops and service companies located on the first floor of the residential district, a kindergarten for 240 and a school for 550 children. It offers future tenants landscaped yards with recreational areas, children’s and sports grounds.
“Offering the credit line to Pioneer Group in the current economic conditions indicates Sberbank’s interest in well-thought-out development projects, – said Andrei Tyutchenko, Chief Financial Officer of the Group. – From the perspective of the end-user collaboration of Pioneer Group with the largest bank in Russia is the evidence of the quality of the borrowing company.”
“Mutually beneficial cooperation with Pioneer Group our strategic partner, has been conducted since 2006, – said Natalia Shemanovskaya, Head of Customer services in the construction industry and development of Sberbank CIB, Managing Director. – During this time, 4 residential complexes in the north-west and south-west of Moscow have been successfully constructed with the participation of Sberbank. Financing a new modern residential real estate project is not only a testament to the further expansion of the strategic partnership with the Group, but also another example of the implementation of our comprehensive approach to providing financial solutions to our clients.”
In December 2013 Pioneer Group and Sberbank CIB signed a long-term strategic partnership agreement in order to increase the efficiency of the Group. The agreement includes the provision of Pioneer Group with complex investment banking and advisory services in domestic and international markets, arranging deals in the equity and debt capital markets, as well as collaboration in financing the activities of Pioneer Group, banking services and cooperation within the framework of marketing initiatives.