Cleary Gottlieb represented Vnesheconombank (VEB) in a new $800 million syndicated unsecured facility agreement that was signed in Moscow by representatives of VEB and a group of 23 international commercial banks, with Deutsche Bank AG as Agent. The new facility supplements in part and novates in part a $500 million facility agreement concluded last year with many of the same banks.
VEB, which is a state bank of the Russian Federation, manages Russia’s sovereign debt under a mandate from the Ministry of Finance.