Dentons has advised UniCredit Bank AO Russia on a sustainability-linked CHF 585 million (approximately EUR 545 million) seven-year facility for Russian Railways. Cleary Gottlieb Steen & Hamilton reportedly advised Russian Railways on the deal.
According to Dentons, the interest rate on the facility is linked to the achievement of Russian Railways’ annual commitments regarding the reduction of air emissions and water consumption as part of its Environmental Strategy.
Russian Railways was the first company in Russia’s transport sector to secure an international loan linked to environmental performance.
Dentons’ team included Warsaw-based Partner Mark Segall, Moscow-based Partner Andrei Strijak and Associate Marina Smirnova, Bucharest-based Senior Associate Lawrence Florescu, and Munich-based Counsel Surbhi Malhotra-Trenkel.
Editor's note: After this article was published, Cleary Gottlieb Steen & Hamilton confirmed its involvement in the deal. The firm's team included London-based Partner Polina Lyadnova and Associate Byamba Enkhbayar.