Crédit Agricole CIB acted as mandated lead arranger and bookrunner for a syndicated short term loan (3 years) to Vnesheconombank (VEB). The final take of the Bank is USD 75 million.

This syndicated loan shows Crédit Agricole CIB commitment to Russia and to VEB in particular which is viewed by the group as a systemic bank for Russian economy. VEB is also one of Crédit Agricole CIB’s primary relationships among the Russian financial institutions.

This transaction will have a positive impact on the relationship between Crédit Agricole CIB and VEB which is already very good. Crédit Agricole CIB has excellent rations at various levels and very good track record across various product lines such as Capital Markets, Export & Trade Finance, PPPPublic-Private Partnership describes a government service or private business venture which is funded and operated through a partnership of government and one or more private sector companies., Loan syndications and Debt & Credit Markets.

VEB is a state financial institution, which provides corporate and other banking services in Russia. VEB has an important role in the national economy, working as development bank. VEB acts as government agency for investment support and with the role of an export credit agency. The bank is also taking care over certain industries including aviation, nuclear, metallurgy, infrastructure and innovation.