UTair signs Mi-8AMT financing deal with Svyazbank

UTair signs Mi-8AMT financing deal with Svyazbank

17-Feb-2013 Source: UTair

[electronic translation] OJSC “Airline” UTair ” (UTair Aviation) and JSCB “Svyaz-Bank” accomplished the first deal to refinance the acquisition of three Mi-8AMT with CJSC «REGION Leasing” (part of the group of companies “regions”).

“This transaction marked the beginning of our cooperation with Communication-Bank. Due to favorable financing conditions, we were able to significantly reduce the company’s costs to upgrade its fleet, “- commented CFO of” UTair “Igor Petrov.

“We hope that the expansion of the helicopter fleet” UTair “, thanks to funding our bank supplies Mi-8AMT will strengthen the company’s position in the global aviation market,” – said the deputy chairman of the Bank of Communications-Sergei Volokh.

Mi-8AMT “UTair” operated under foreign commercial contracts in Europe, and also perform work on the oil and gas industry in Western and Eastern Siberia. “UTair” has more than 40 years of experience in operating helicopters family “Mil” all classes in different regions of the planet. All in its fleet of more than 350 helicopters, including the lifting of the world Mi-26.

“UTair” – the world’s largest airline in size and capacity of the helicopter fleet, using a fleet of more than 350 helicopters of various types – mostly family, “Miles” and Eurocopter. Helicopters company serving customers on 4 continents.

The main customers of helicopter operations “UTair” in Russia – leading oil and gas companies with whom the airline cooperated for over 40 years. Since 1991, “UTair” is a major provider of aviation services for the humanitarian mission of the UN.

Possibilities of the park and professional staff “UTair” provide high quality and safety of air operations of any degree of complexity in all geographical and climatic zones of the world. The company is a member of “UTair”.

CJSC “REGION Leasing” was founded in 2011 and is part of the group of companies “region.” Universal Leasing Company JSC “Leasing Region” aims to assist in the modernization program of capital and technical equipment manufacturing enterprises in key capital-intensive sectors of the economy. The company specializes in the leasing of vehicles, machinery and equipment, vehicles, aircraft, sea and river vessels. The group of companies “REGION” was founded in 1995, operates in various segments of the financial market and is one of the leading investment groups in Russia.

JSCB “Svyaz-Bank” was founded in 1991. License by the Bank of Russia № 1470. The Bank has a network of 51 branches in the regions of Russia. Member of the deposit insurance system.

The main shareholder of the Bank of Communications, is the State Corporation “Bank for Development and Foreign Economic Affairs (Vnesheconombank)”.

The rating agency Fitch Ratings has assigned a long-term connection-bank issuer default rating in foreign and local currency ratings at «BB», National Long-term rating at «AA-(rus)». The outlook for ratings is stable.

Service credit rating Standard & Poor’s assigned its Communication-bank counterparty credit rating of “BB” and the national scale rating to «ruAA».

The outlook – ‘Stable’. According to the Central Bank of the Russian Federation, Communication Bank was among the 30 largest banks in Russia.

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