«    2017    »
july
august
september
october
november
december


Integra brochure
(pdf - 1.6 mb)


March 02, 2017

Alfa-Bank and Sberbank have restructured debts of the Integra Group in the amount of 8.7 billion rubles

Alfa-Bank JSC and Sberbank PJSC have completed a deal to provide a syndicated credit to the Integra Group.

The banks have merged into a banking syndicate and provided the Integra Group with funds in the total amount of 8.7 billion rubles to restructure existing obligations to participating banks and obtain additional working capital.

The term for execution of all syndicated credit obligations is 6 years (until December 2022). Thus, the provision of financing allowed the company to significantly prolong the terms of the current loan obligations to Sberbank PJSC and Alfa-Bank JSC and provide a comfortable schedule of debt repayment, as well as to obtain new funds to finance its working capital.

"We are grateful to our financial partners for their flexibility. The performed restructuring significantly supported implementation of the Integra Group business objectives and enabled us to effectively optimize the loan portfolio. This will strengthen the company's position in the domestic market of oilfield services, as well as provide substantial support for the implementation of international projects," said Felix Lyubashevsky, President of the Integra Group.

"Alfa-Bank always tries to find comfortable for both sides, conflict-free terms of debt restructuring, and in this very case the Integra Group management has showed similar openness in negotiations. We highly appreciate the potential of our relationship with the company and intend to continue cooperation on credit financing, as evidenced by provision of the new loan," said Maxim Pershin, Alfa-Bank Board Member, Co-director of the Corporate Investment Bank Unit.

"In solving business problems, Sberbank is maintaining an open dialogue with its partners. Thanks to the cooperation with Alfa-Bank JSC and the Integra Group, agreements have been reached on the optimal and mutually beneficial settlement of the current situation in the shortest possible time. This is a unique experience of cooperation, which we value and will use in our work," said Alexander Anashchenko, Chairman of the West Siberian Bank of Sberbank.

The organizers of the syndicated credit are Sberbank PJSC and Alfa-Bank JSC. Sberbank is a Paying agent and Collateral Manager. The international legal firm Linklaters acts as a legal adviser of creditor banks, and the international law firm Clifford Chance – as a legal adviser on the borrower's side.

 

The Integra Group is one of Russia's largest oilfield service companies. It was founded in March 2004. Today it consists of 7 business units (Integra-Burenie LLC, Integra-Services LLC, VNIIBT-Burovoy Instrument LLC, Geofizservice LLC, Orenburgtechservice LLC, SIAM Business Unit, Smith Siberian Services LLC), which employ about 6,000 people. The company's enterprises provide comprehensive services at all stages of the field life cycle - from the preparation and approval of the development project to the design, construction and completion of wells, increased reservoir recovery and well abandonment. The main part of orders falls on drilling and services, such as cementing and well workover, hydrodynamic and geological-field research. The geography of the Company's business stretches for more than six time zones, including the most inaccessible areas of Russia. Integra enterprises operate in all oil and gas regions of the country and are experienced to work on various oilfield projects both in Russia and abroad. The Company's customers are the largest oil and gas producing companies: Gazprom, Gazprom Neft, NK Rosneft, LUKOIL and others.

Alfa-Bank JSC was founded in 1990. Alfa-Bank is a universal bank that carries out all major types of banking operations represented in the financial services market, including servicing of private and corporate clients, investment banking, leasing, factoring and trade financing. In the first half of 2016, according to financial statements (IFRS), the total assets of the Alfa-Bank Group, which includes ABH Financial, Alfa-Bank JSC and its subsidiaries, amounted to USD 33.3 billion, the total loan portfolio - 22.0 billion US dollars, total capital - 4.6 billion US dollars. Net profit for the first half of 2016 amounted to 161 million US dollars. As of June 30, 2016, Alfa-Bank serves about 277,000 corporate clients and 14 million individuals. In Moscow, regions of Russia and abroad, 723 branches and offices were opened, including a subsidiary bank in the Netherlands and financial subsidiaries in the UK and Cyprus. Alfa-Bank is the official European bank of the FIFA World Cup 2018™ and FIFA Confederations Cup 2017.

Sberbank PJSC is the largest bank in Russia and one of the leading global financial institutions. Sberbank accounts for about a third of the entire Russian banking sector assets. Sberbank is a key lender for the national economy and holds the largest share in the deposit market. The founder and main shareholder of Sberbank PJSC is the Central Bank of the Russian Federation, which owns 50% of the authorized capital plus one voting share. The other 50% of the Bank's shares are owned by Russian and international investors. Sberbank services are provided to more than 135 million individuals and more than 4 million enterprises in 20 countries. The Bank has the largest branch network in Russia: about 17,000 branches and internal structural units. The Bank's foreign network consists of subsidiaries, branches and representative offices in the UK, the USA, CIS, Central and Eastern Europe, India, China, Turkey and other countries. General license of the Bank of Russia for banking operations - 1481. Official websites of the Bank are www.sberbank.com (site of Sberbank Group), www.sberbank.ru. On the territory of Tyumen and Omsk regions, Khanty-Mansiysk and Yamal-Nenets autonomous regions, there operates the West Siberian Bank of Sberbank. Its branch network has about 700 units. The Bank invests in all sectors of industries, acting as a strategic partner in the development of business of many regional enterprises, and actively participates in implementation of state economic and social programs.