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Sberbank in Warehouse Partnership

By The Moscow Times

The corporate and investment banking division of Sberbank signed a strategic partnership with MLP to finance the warehouse developer's debt by using three of the company's facilities as collateral.

The bank's merchant banking department has also acquired a convertible preferred stock amounting to a 33 percent stake in the group, which manages 1.33 million square meters of industrial space including four warehouse complexes in the Moscow region, St. Petersburg, Podolsk and Kiev.

A statement from the companies said that they would cooperate on "financing the developer's projects, hedging interest rate and foreign exchange risks and providing mezzanine financing."

MLP's properties also include Severnoye Domodedovo Industrial and Logistics Complex and Tomilino Logistics Complex.

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