White & Case Advises Raiffeisenbank on Club Syndicated Financing in Water Utilities Sector in Russia
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Global law firm White & Case LLP has advised Raiffeisenbank as a lead lender on the club syndicated financing of the Rosvodokanal group of companies, a Russian water utilities and water management company, for up to US$127 million.
"This was an interesting and unique project," said White & Case partner Natalia Nikitina, who led the Firm's deal team. "Such transactions, with the largest private banks and development institutions in Russia, prove the breadth of our expertise in banking and finance, and our openness to innovation".
White & Case advised on drafting and negotiating related finance documents and analysis of existing concession agreements. The financing will be used for corporate purposes and the modernization of existing water facilities.
Rosvodokanal's facilities currently provide access to clean water for 5.5 million users and more than 40,000 companies. Rosvodokanal operates a network of water supply and sewerage utilities with a total length of over 16,500 kilometers. The company accounts for more than 20 percent of the market for private operators of water supply and sanitation in Russia.
This is the first time Russian banks have signed a syndicated loan deal in digital format and remotely using an enhanced qualified electronic signature.
The White & Case team in Moscow was led by partner Natalia Nikitina and included local partner Ekaterina Logvinova and associates Rimma Izmaylova, Azamat Gaisenov, Adel Shageev, Maria Kulmukhametova, and Victoria Pimkina.
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