Savings Bank of the Russian Federation and RAIL1520 signed agreement on framework facility opening to amount of 10 bln roubles

Joint-stock commercial Savings Bank of the Russian Federation and the leasing company RAIL1520 (OJSC «Rail1520») have signed a general agreement on the framework facility opening to the amount of 10 bln roubles.

The long-term loan attraction will allow the company to continue the development of its own freight car fleet. The first tranche per the rolling stock purchase has already been implemented, the further plan of the company's investment in rolling stock assumes the full use of the credit limit in the first half of 2012.
The plan of the RAIL1520 is to become one of the largest players in the market of the operative leasing by 2015.

“The development of the cooperation with the companies of the railway branch is a perspective direction for Sberbank of Russia. The bank has considerable experience in the transport segment lending and offers its clients a wide range of banking products, including the rolling stock financing for its subsequent transmission into the operative leasing”, Tatyana Sakharova, the Managing director, the Head of the Department of Crediting and Project Financing of Sberbank of Russia, commented.

"The attraction of the loan will provide us with the dynamic growth of the portfolio of assets in 2012, and in the long term it will allow us to occupy one of the leading places in the market of a rolling stock operative leasing", - Roman Savushkin, the General director of RAIL1520, said.