Raiffeisen Group arranges €315 million syndicated loan for Kronospan

Raiffeisen Bank International arranged a syndicated loan of €315 million for the group of companies Kronospan, the world’s largest wood-based panels, and laminate flooring manufacturer. Unicredit Bank Austria AG also participated in the syndicate, providing 50% of the credit, and Raiffeisenbank acted as a creditor and the loan agent. The 5-years syndicated loan is aimed at supporting the Kronospan investment projects in Russia.

Kronospan production facilities in Russia are represented by several wood processing plants, including one in the Moscow region and the Republic of Bashkortostan. In November 2021, the company announced a 60 billion RUB investment to construct a new woodworking plant in the Kaluga region.

«Russia is one of the key markets for us both in terms of demand for our products and developing efficient production, including the export-oriented one. Long-term cooperation with Raiffeisenbank supports us in realizing the most ambitious development goals in the Russian market,» said Mr. Ardasher Kurbansho, General Director of Kronospan in Russia.

«RBI Group has been Kronospan’s reliable partner for many years, contributing to the development and diversification of the group’s business in Russia. We’re keen to support the investment cycle of our clients' businesses. It allows us not only to provide companies with effective financial solutions but also to support direct investments in the Russian economy and its technological development,» said Maria Maevskaya, Head of International Business Department, Raiffeisenbank.

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