SG CIB signed a loan of USD 202m guaranteed by Coface and a commercial credit of USD 298m in a club deal with CA CIB, BNPP and Citibank for JSC Gazprom Space Systems ('Gazcom').

The first financing arrangement, supported by the French export credit agency, is aimed at funding a commercial contract signed by Thales Alenia Space (T.A.S.), the supplier responsible for the design, production and delivery of the two satellites, Yamal-401 and Yamal-402, on behalf of the borrower, the Russian company Gazprom Space Systems. The two satellites are intended to make it possible to provide fixed communication and broadcasting services.  The purpose of the second financing agreement, the commercial credit, is to finance the advance payment of the commercial contract signed with T.A.S., local fees connected with setting up the two satellites and financial fees.