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© Ilim Paper
Ilim Group, Russia’s leading pulp and paper company, a major exporter and one of the biggest companies in the industry globally, announced yesterday that it has signed a four-year unsecured syndicated loan agreement for USD 500 million. The agreement is the largest corporate debt transaction in the industry across Eastern Europe and Russia/CIS, according to Dealogic data.
The loan was arranged by Raiffeisen Bank International (RBI Group) and Intesa Sanpaolo, with Crédit Agricole also joining the syndicate on the European side. In Asia, the syndicated loan includes the four largest banks in China as well as one Korean bank.
Ilim will use the funds to finance its strategic development projects focusing on Europe and Asia, which are its priority markets. The company this year celebrates 10 years of partnership with US-based International Paper under a joint venture agreement.
