A set of standardised loan documents governed by
Russian-law will be rolled out to banks from next year,
IFLR can reveal.
Their introduction should kick-start domestic loan
syndications a potentially highly lucrative market
which has been crippled by uncertainty over contract and
Under the auspices of the Association of
Regional Banks of Russia (Asros), a committee of
international law firms and 30 local and foreign banks have
been working on a market precedent since April 2011.
We hope that the first deals under the standardised
documentation will be in the middle of next year, said
Asross Oleg Ivanov, who is spearheading the
They will not be Loan
Market Association (LMA) documents, but will be based on
the LMA model and aim for the same economic effect.
A position paper has been circulated and the law firm to
draft the first standardised document...