On October 16, 2007 VTB, SMBC and JBIC entered into credit agreements for the principal amount of USD 175 million for financing of the construction and commissioning of the Sheremetyevo-3 Air Terminal.
Under the credit agreements SMBC arranges a loan to VTB on for a period of 12 years. The loan is supported by JBIC’s guarantee.
The loan is extended under the programme for the financing of extensive infrastructure projects, unrelated to the delivery of goods and services from Japan.
The long loan maturity demonstrates the high level of confidence of Japanese banks to VTB and promotes the development of co-operation between Russia and Japan.
Re.: Sumitomo Mitsui Banking Corporation, Tokyo (SMBC) was founded in April 2001 by merging of Sakura Bank (was founded in July of 1876 as Mitsui Bank) and Sumitomo Bank (since June 1895). SMBC is wholly-owned subsidiary of Sumitomo Mitsui Financial Group, Inc (SMFG was founded in December 2002). In 2003 SMBC merged with Wakashio Bank. SMBC (A+ A-1 credit ratings from S&P) ranks 2nd in Japan and 19th in the world in terms of assets and has 437 domestic and 20 foreign branches.
Japan Bank for International Cooperation (JBIC) was established in October 1999 by merging of Overseas Economic Cooperation Fund (founded in 1961) and Eximbank of Japan (founded in 1950). JBIC is state-owned bank. Government of Japan holds 100% shares. JBIC (AA-, A-1+ credit ratings from S&P) ranks 8th in Japan and 92nd in the world in terms of assets.