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Clifford Chance advises VTB Bank on the refinancing of two Boeing freighters for Volga-Dnepr Group

31 January 2017

Clifford Chance advises VTB Bank on the refinancing of two Boeing freighters for Volga-Dnepr Group

The Moscow office of Clifford Chance has advised VTB Bank (Public Joint-Stock Company) (VTB Bank) on the refinancing of two Boeing 747-8F aircraft for Volga-Dnepr Group.

The transaction was one of the first aircraft finance transactions on the Russian market; it reflects a growing interest in aircraft finance demonstrated by the major players of the Russian banking sector. One of the features of the refinancing structure was the complicated closing mechanism with separate title transfers to airframes and engines while the aircraft and engines were in international air space.

VTB Bank is one of the leading universal banks of Russia. The bank and its subsidiaries form a leading Russian financial group – VTB Group, offering a wide range of banking services and products in Russia, CIS, Europe, Asia, Africa, and the United States.

The Clifford Chance Moscow team working on the deal included Victoria Bortkevicha, Adam Fadian, Anna Nikulina, Nikolay Kosminskiy, Dmitry Elkin and other associates.