Herbert Smith has advised the European Bank for Reconstruction and Development on its largest single loan since it was founded in 1991 — a $500 million financing in Russia.

The top 10 U.K. firm advised the EBRD on a $500 million 10-year unsecured loan for state-owned rail monopoly Russian Railways (RZD), with the loan tied to reforms including the restructuring of freight operations.

Moscow finance partner Edward Baring led the team for Herbert Smith assisted by banking and finance partner Artjom Buligin and finance associates Alexander Zalivako and Ivan Gavrilov.

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