On March 1, 2010 GAZ Group completed restructuring of its RUR 39.3 billion bank debt. The Company entered into 5-year loan agreements with 22 Russian and foreign banks, providing for a two-year grace period for repaying the principal and 6 months grace for interest payments. Sberbank of Russia acted as organizer of the syndicate of GAZ Group's creditor banks, while Raiffeisenbank became documentation agent.