Syndicated loan for “Sovcomflot” with Societe Generale participation was recognized as the Deal of the Year in the field of green finance

    23 April

An international magazine Marine Money recognized a 7-year credit agreement between “Sovcomflot”, the largest shipping company of Russia, and a syndicate of foreign banks as the Deal of the Year in the category Green Ship Finance-West. The deal was closed for financing of the construction of the world’s first large-capacity tankers fueled by liquefied natural gas. The sum of the deal closed in April 2018 is USD 252 million.

Societe Generale Group acted as an authorized leading organizer and one of the largest creditor for the agreement that also included ABN AMO Bank, BNP Paribas, Citibank, ING Bank and KfW IPEX-Bank as participants.

“We are especially glad to see an international recognition that this agreement has got. Societe Generale pays a special attention to the issues of the environment protection, we are ready to support of our partners that significantly reduce a negative effect on the environment”, Perizat Shaikhina, Deputy CEO, Head of Corporate Block of Rosbank.

We appreciate the support of this investment project by Societe Generale. The project is very important and innovational both for “Sovcomflot” and the whole industry. Last year the bank took part in three deals on financing of the company projects and we expect the further development of partnership relations between “Sovcomflot” and Societe Generale Group”, Nikolay Kolesnikov, First Deputy Executive Director, Chief Financial Officer of PJSC “Sovcomflot”.

Public joint stock company “Sovremenniy kommercheskiy flot” is the largest shipping company in Russia, one of the world leaders in the sphere of hydrocarbon sea shipping, offshore exploration service and oil and gas extraction. Proper and charter fleet specialized at hydrocarbon shipping from the areas of a complicated ice conditions includes 146 ships with a total deadweight of 12,7 million tons. The tankers of a “green series” of SCF were designed taking into account the international terms on the reduction of the emissions of sulfur and nitrogen oxides and greenhouse gases and the strict requirements for eco-friendliness and security of ships that operate in the waters of Baltic and Northern seas. These regulations will be effective from 2020.