Movies Used as Collateral for RWS Loan

Sberbank and ING Bank will provide a 1.2 billion ruble ($43 million) three-year loan to filmmaker Russian World Studios owned by AFK Sistema, accepting copyrights to its movies as a collateral, the companies said Wednesday in a statement. “This deal is an unprecedented step in the Russian corporate lending market — the copyright for movies is used as a collateral for getting a loan for the first time in the Russian media […]