Law on Syndicated Loans Adopted in Russia
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Key takeaways:
- Special legislation on syndicated loans is adopted in Russia. The law comes into force on 1 February 2018.
- The law, among other things, introduces the basics of syndicated financing which may sometimes differ from international approach and specifies a procedure for registration of a pledge as security under a syndicated facility agreement.
- The law is intended to encourage lenders and Russian borrowers to enter into syndicated facility agreements governed by Russian law.