Clifford Chance

Clifford Chance advises ING Bank on a EUR384 million secured credit facilities to Segezha Group

Leading international law firm Clifford Chance has advised ING Bank N.V. (together with ING BANK (EURASIA) JSC, AO Raiffeisenbank, Raiffeisen Bank International AG and Sberbank of Russia as lenders) on a five-year EUR383.6 million secured credit facilities to Segezha Group, the leading Russian wood processing group of companies owned by Sistema (one of the largest diversified holdings in Russia). Segezha Group includes both Russian and European timber enterprises, woodwork facilities, pulp and paper industries, and paper packaging producers.

The funds will be used to finance Segezha Group's investment programme, which includes long-term projects such as an overhaul of Segezha pulp & paper mills and construction of a new plywood factory in Kirov, as well as general corporate needs.

The Clifford Chance Moscow team working on the deal included Victoria Bortkevicha, Vladimir Barbolin, Michael Anderson, Arina Skrebkova and Sasha Kobyasheva. The Amsterdam team consisted Jelle Hofland, Mark Huddlestone, Charlotte Spierings and Joseph Dijkshoorn.