UniCredit Bank Opens a Documentary Facility for Arnest Group Amounting to 463 Million Roubles for 61 Months
The Stavropol Branch of AO UniCredit Bank and Arnest JSC signed a Facility Agreement to carry out documentary transactions. A bank guarantee was issued under the Agreement amounting to RUB 463 mln for a period of 61 months for Aeroball LLC, member of the same group of companies, for the benefit of Federal State Autonomous Institution Russian Foundation for Technological Development, to ensure securing obligations arising from loan agreement granted by the Foundation on financing investment expenditures of the Group within the Project “Development of Advanced Export-Oriented Aluminium Tank Production Facilities in the Stavropol Territory”.
“We are very pleased to be a financial partner of Arnest Group. UniCredit Bank, being one of the systematically important banks of the country, has a wide expertise in terms of efficient use of various government support credit instruments. This transaction is another example of efficient use of such program by the enterprise, which allowed raising financial resources at the advantageous terms”, says Svetlana Khadyka, Manager of the Stavropol Branch of UniCredit Bank.
“UniCredit Bank has been one of the key servicing banks of Arnest Group for over 10 years. Due to capabilities of UniCredit Bank, we managed to raise financing to implement a new project aimed at keeping the technological leadership of the Group in aerosol industry as well as to expand our export potential. I am sure that our cooperation will continue to be efficient and productive, contributing to the successful development of our business”, says Aleksey Sagal, President of Arnest JSC.
Arnest Group is one of the largest producers of perfumes and beauty products in Russia and CIS. Production is located at the following industrial sites: Arnest OJSC (Nevinnomyssk, Stavropol Region) and Aerosol Novomoskovsk LLC (Novomoskovsk, Tula Region) using cutting-edge technologies, feedstock, materials, and equipment of the leading world producers.