International borrowings

In June 2011, the Group placed the seventh issue of its medium-term borrowing (MTN) programme on the international financial markets. In November, Sberbank raised a multi-currency syndicated loan from a consortium of foreign banks. The loan was received in two tranches in two different currencies: USD 1.06 billion and EUR 0.1 billion.

In October 2011, the Group repaid a syndicated loan of USD 1.2 billion from a consortium of foreign banks. In November 2011, the Group repaid the second issue of loan participation notes issued under the MTN programme in the amount of USD 0.75 billion.

The share of international borrowings in the Group’s funds continues to be insignificant at about 4.3% of total liabilities

The nominal amount of Sberbank’s international borrowings as of the end of the reporting year was CHF 0.4 billion, EUR 0.1 billion and USD 7.8 billion, with USD 4.75 billon and CHF 0.4 billion raised under the MTN programme.

The share of international borrowings in the Group’s funds continues to be insignificant at about 4.3% of total liabilities.

The main parameters of the Group’s international borrowings as of 31 December 2011 are shown below.

Instrument Currency Original amount Origination date Maturity Interest rate, %
Medium-term borrowing programme (MTN programme)
Tranche 1 USD 0.5 billion May 2006 7 years 6.5%
Tranche 3 USD 0.5 billion July 2008 5 years 6.5%
Tranche 4 (principal issue) USD 1 billion July 2010 5 years 5.5%
Tranche 4 (additional issue) USD 0.5 billion August 2010 5 years 5.5%
Tranche 5 (principal issue) USD 1 billion September 2010 6.5 years 5.4%
Tranche 5 (additional issue) USD 0.250 billion October 2010 6.5 years 5.4%
Tranche 6 CHF 0.4 billion November 2010 4 years 3.5%
Tranche 7 USD 1 billion June 2011 10 years 5.7%
Syndicated loans
Syndicated loanss USD 2 billion December 2010 3 years 6m LIBOR + 1.5%
Syndicated loan (tranche 1) USD 1.06 billion November 2011 3 years Зm LIBOR + 1.5%
Syndicated loan (tranche 2) EUR 0.1 billion November 2011 3 years Зm EURIB0R + 1.1 %

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