01.09.2009

Sberbank provided HMS Group with a loan

Further to the program of cooperation, the West-Siberian Bank of Sberbank of Russia provided Hydromashservice JSC (incorporated into HMS Group JSC) with a loan of RUB 800 million. The loan funds are granted for a period of three years. The company will start to repay the loan in two years. 

 

Several HMS Group's production facilities are located in Western Siberia: Neftemash JSC, Nizhnevartovsk JSC, Engineering and Production Company Sibneftavtomatika JSC and Sibkomplektmontazhnaladka Trust OJSC among them. In this context, “HMS Group” JSC considers the Western-Siberian bank of Sberbank of Russia to be a strategic partner and plans to further develop cooperation with the largest bank in the region not only in lending but also in providing the full range of banking services.

 

The loan is intended to enable Hydromashservice JSC to repay its current debt to other banks. A short-term debt refunding by means of the long-term loan granted by Sberbank of Russia will allow the company to complete its loan portfolio reorganization. Currently the loan portfolio of the Group amounts to RUB 4.63 billion, With the assistance of the loan of the West-Siberian Bank of Sberbank of Russia, the proportion of long-term loans in the portfolio increased to 60%.

 

 HMS Group JSC is one of major pump and complex hydraulic systems producers for oil and gas complex, power generation, housing and public utilities, water management etc. It is one of the leading manufacturers of oilfield equipment and, besides, a dynamically developing company which carries out engineering and building services for oil and gas production. In 2008 the revenue of HMS Group was RUB 14.1 (IFRS), RUB 1.7 billion (EBITDA), net profit of RUB 0.4 billion

Official website of the Group: www.grouphms.ru

Sberbank of Russia is the largest bank in Russia, Central and Eastern Europe, accounting for 30% of the aggregate Russian banking assets. It is the key lender to the national economy. Central Bank of Russia is the founder and the controlling shareholder of Sberbank owning more than 60 % of its voting shares with the rest of the shares dispersed among more than 200,000 individuals and corporate entities. Sberbank has the largest countrywide branch network with 17 regional banks and more than 20,000 offices and internal structural subdivisions, operates subsidiary banks in Kazakhstan and Ukraine. 

General Banking License No. 1481 of the Bank of Russia

Official website of the Group: www.sberbank.ru

The West-Siberian Bank of Sberbank of Russia is the largest bank in Western Siberia. It operates in Tyumen and Omsk Regions, the Khanty-Mansi and Yamal-Nenets autonomous districts. The branch network includes more than one thousand offices. The Bank invests in all sectors, acts as a strategic partner in business development of many regional companies, actively participates in the implementation of government economic and social programmes.

Official website of the Group: www.zsb.sbrf.ru