Global law firm Dentons advised UniCredit Bank AO Russia on a sustainability-linked CHF 585 million (approximately €545 million) seven-year facility for Russian Railways. The interest rate on the facility is linked to the achievement of Russian Railways’ annual commitments regarding the reduction of air emissions and water consumption as part of its Environmental Strategy.

Russian Railways was the first company in Russia’s transport sector to secure an international loan linked to environmental performance. It is currently one of the largest ESG borrowers on the local market and the only corporate borrower representing Russia on the green Eurobond market.

Warsaw-based partner Mark Segall led the cross-border team, which included counsel Surbhi Malhotra-Trenkel in Munich, senior associate Lawrence Florescu in Bucharest, and partner Andrei Strijak and associate Marina Smirnova in Moscow.