Dewey & LeBoeuf’s Moscow office has advised key banking client Sberbank of Russia, as lead arranger of a syndicate of 16 banks, on the 32.3 billion Rouble (approximately US$1.1 billion) refinancing and restructuring of the machinery conglomerate Concern “Tractor Plants”.

The loan was secured by multiple pledges and guarantees of 27 of the group’s companies. Concern “Tractor Plants” is one of the world’s leading producers of heavy machinery with plants in Russia and Western Europe.

Dewey & LeBoeuf Partner Dmitry Gubarev, head of the Moscow Banking & Finance Practice, commented, “This has been a major project and we’re very pleased that we have been able to provide Sberbank and the other banks in the syndicate with our services throughout the long and complex restructuring and syndication processes. This transaction is 2011’s largest Russian law syndicated loan to date, involving many of Russia’s leading banks.”

Alongside Sberbank, the 16 member syndicate comprised VTB Bank, Bank Petrocommerce Russian Agricultural Bank, AK BARS Bank, MDM Bank, UniCredit Bank, Swedbank, Banque Société Générale Vostok, ICICI Bank Eurasia, Raiffeisenbank, Zenit Bank, Uralsib Bank, Garanti Bank Moscow, National Trade Bank, and Energoprombank.

The Dewey & LeBoeuf team was led by Partner Dmitry Gubarev, who worked with Associates Natalia Mikheeva and Alexandra Kobzeva, among others.