DLA Piper advised Sberbank Investments, an investment arm of Russia’s largest bank, on secured mezzanine financing of a training and educational centre being created under a concession agreement signed by Russia’s Nizhny Novgorod Region and Prosveshcheniye Group, a Russian educational holding.
Comprising of four buildings with a total capacity of 4,550 seats, the educational centre in Nizhny Novgorod will become the leading school in Volga Federal District in terms of educational standards and design solutions.
The construction financing is made up of a loan from Sberbank, investor’s own money and the federal budget, which allocated funding for the 800th anniversary of Nizhny Novgorod.
DLA Piper advised Sberbank Investments on the financing of this complex project, which included the drafting of the Russian law mezzanine loan, security documentation and negotiating the concession documentation. The firm’s Moscow-based team was led by Corporate partner, Leo Batalov, supported by Finance, Projects and Restructuring legal director Ivan Sezin and associate Daria Vasilieva.
