RUS

Sovcomflot receives Deal of the Year award from Russian financial community

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PAO Sovcomflot received the prestigious ‘Treasurer of the Year 2019’ national award in the ‘Financing Deal of the Year’ category on 22 December 2019.

Russia’s independent Association of Corporate Treasurers (member of the International Group of Treasury Associations) bestowed the award. The Association's Expert Council, which included professionals from the financial sector, as well as executives of the major Russian banks and corporations, honoured SCF Group’s Treasury for a series of loan transactions worth more than USD 1.0 billion successfully completed in 2019 to provide finance for the company’s current investment programme and refinancing its maturing debt obligations.

Alexander Verbo, Head of PAO Sovcomflot’s Finance Department – Treasury, collected the award on behalf of the company.

"The successfully completed deals proved that the company maintains continuous access to funding sources amid ongoing volatility of the financial markets, and also allowed Sovcomflot to optimise its debt repayment profile as well as to enhance the company's mid-term liquidity position," commented Alexander Verbo.

PAO Sovcomflot won the national ‘Treasurer of the Year’ award for the second year running. Moreover, Sovcomflot has repeatedly received awards for its successful capital raising at an international level, in particular, the Marine Money awards, as well as the Deal of the Year Award at the 2017 Seatrade Awards.

SCF Press Service

Sovcomflot (SCF Group) is one of the world's leading energy shipping companies, specialising in the transportation of crude oil, petroleum products, and liquefied gas, as well as the servicing of offshore oil and gas exploration and production. The company’s fleet includes 147 vessels with a total deadweight of over 12.8 million tonnes. More than 80 vessels have an ice class.

Sovcomflot is involved in servicing large oil and gas projects in Russia and around the world: Sakhalin-1; Sakhalin-2; Varandey; Prirazlomnoye; Novy Port; Yamal LNG, and Tangguh (Indonesia). The company is headquartered in Saint Petersburg, with offices in Moscow, Novorossiysk, Murmansk, Vladivostok, Yuzhno-Sakhalinsk, London, Limassol, and Dubai.