Conyers Dill & Pearman advises Russian bank on the Bermuda law aspects of $3.2bn loan

Conyers Dill & Pearman’s Claire McConway has advised Sberbank of Russia on the Bermuda law aspects of a $3.2bn (£2bn) loan to Altimo Coöperatief.

The loan is intended to, among other things, pay the premium for conversion of the borrower’s preferred shares in Vimpelcom, a Bermuda company with ADRs traded on the New York Stock Exchange.

The loan was secured by a charge over the borrower’s shares in Vimpelcom.