OREANDA-NEWS. On October 29, 2007 JSCIB "UkrSibbank" obtained a syndicated loan in the total amount of USD 110mln. Syndicated loan provides for two tranches in the amount of USD 80mln and 30mln and for the periods of two and one year correspondently, reported the press-centre of UkrSibbank.

Two-years tranche has a floating interest rate of six-months rate LIBOR + 1,20% per annum, whereas the rate for one-year tranche equaled to six-months LIBOR + 0,80% p.a. Bayerische Landesbank, BNP Paribas Finance p.l.c. and HSBC Bank plc acted as the authorized managers and bookrunners.

"Liquidity crisis on the international financial markets and alienation of investors’ interest in emerging ones formed an obstacle which UkrSibbank aptly overcame. This is the most successful syndicated loan raised by Ukrainian bank since the break-out of instability at the international markets", – commented Oleksandr Adarich, Chairman of the Board, JSCIB "UkrSibbank".

The raised funds are intended to finance general corporate objectives of UkrSibbank, which include, but are not limited to, trade finance-related transactions of the Bank’s clients.

"This is the fifth syndicated loan raised by UkrSibbank, it being the second one in this year. In May, 2007 UkrSibbank obtained a USD 250mln syndicated loan for a two-years period (although initially it was planned to mobilize only 150mln US dollars). To date that syndicated loan in terms of cost is considered a benchmark for similar deals with a two-years maturity for Ukrainian banks", – stated Oleksandr Sulyayev, Deputy Chairman of the Board, JSCIB "UkrSibbank".

Full report see here:
http://www.ukrsibbank.com/en/press_centr/press_relizy/imidzh_banka/ukrsibbank_privlek_sindicirovannyj_kredit_v_razmere_110_mln_doll_ssha