3 March 2017
Clifford Chance advises Integra Group on its RUB8.7 billion debt restructuring by Sberbank and Alfa-Bank
The Moscow office of Clifford Chance has advised Integra Group on its debt restructuring, the financing in the amount of RUB8.7 billion has been provided by the syndicate consisting of Sberbank and Alfa-Bank.
All obligations under the syndicated loan are to be performed within 6 years (by December 2022), allowing the company to significantly extend the repayment period for existing loans, obtain a convenient schedule and to raise additional working capital finance.
"We appreciate the flexibility of our financial partners. The restructuring has significantly contributed to the achievement of Integra Group's business objectives and has given us an opportunity to efficiently optimise the credit portfolio. This will allow to strengthen the company's position at the local oil service market and will materially contribute to the implementation of international projects", Felix Lyubashevsky, Integra Group's President, noted.
The Clifford Chance Moscow team working on the deal was led by Vladimir Barbolin with support from Arthur Iliev and Ekaterina Matveychuk on the corporate side.