INTESA SANPAOLO AND MPS CAPITAL SERVICES TOGETHER WITH BARBARO GROUP FOR THE DEVELOPMENT OF THE SHIPPING GROUP IN RUSSIA

 

• 70 million-dollar financing earmarked for new naval vessels to be used for river transport in Russia

 

• Banca IMI Mandated Lead Arranger of the transaction

 

Milan/Florence, 3 March 2011 - Intesa Sanpaolo, MPS Capital Services (Montepaschi Group) and PB Norge A.S. – a company of the Barbaro Group – have initialled in recent days a medium-/long-term loan in the amount of 70 million dollars, directed toward the realisation of 8 sea-river tankers for the transport of oil products on the Volga and Don rivers and in the Caspian Sea and Black Sea area.

 

The aim of the operation is to realise 8 units that will increase the current 15-ship fleet financed in past years by Intesa Sanpaolo, with two previous packages totalling approximately 106 million dollars. The entire fleet is operated by Prime Shipping, a Russian company of the Barbaro Group that has its office in Samara.

 

The financing has seen Intesa Sanpaolo as leader of the transaction, through Centro Corporate Sicilia, with a share of 55% in collaboration with MPS Capital Services, which participated with a share of 45%, and was structured and co-ordinated by Banca IMI, acting in the capacity of Mandated Lead Arranger.

 

Finally, collaborating in the finalisation of the transaction were Banca Intesa Russia and Société Européenne de Banque (SEB), the banks of the Intesa Sanpaolo Group with offices in Moscow and in Luxemburg, respectively. Legal advisor to the banks was Watson, Farley & Williams.

 

For further information contact:

 

Intesa Sanpaolo

Media Office

Corporate & Investment Banking

+39.02.8796.3010/3119

stampa@intesasanpaolo.com

 

Montepaschi Group

Media Relations

+39.0577.299927

ufficio.stampa@banca.mps.it

 

Barbaro Group

Media Relations

Dr Federica Barbaro

+39.06.85379034.

f.barbaro@pbtankers.com