OREANDA-NEWS. December 14, 2007. The arrangers of the loan were the international banks BAYERNLB (Germany), Calyon (France) and UniCreditGroup, which acted through the Bank Austria Creditanstalt AG (Austria). The corresponding agreement was signed on December 10, 2007, reported the press-centre of Ukrsotsbank. 

The loan has been attracted for a period of one year with the possibility of prolongation for the same period. The loan funds will be directed to finance export-import contracts of the Bank clients, as well as refinancing of previous syndicated loan in the amount of USD 250 million, which has been fully repaid December 13, 2007.

The interest rate on the new loan is Libor + 0,8% per annum. The loan participation started November 12, 2007 and ended in early December this year, after reaching the amount of applications for USD 200 million as Ukrsotsbank did not need a larger amount.

The following leading foreign banks became participants of the syndicate: Bayerische Landesbank, Calyon, Bank Austria Creditanstalt AG, Bayerische Hypo und Vereinsbank AG, Yapi Kredi Nederland NV, Sumitomo Mitsui Banking Corporation Europe Limited, Alpha Bank AE, American Express Bank Ltd, The Bank of Tokyo-Mitsubishi UFJ, Ltd, Commercial Bank of Kuwait SAK, Wachovia Bank NA, Commerzbank AG, Garanti Bank International NV, National Bank of Egypt (UK) Limited, BRE Bank SA, The Export-Import Bank of the Republic of China, Landesbank Saar.

"The participation of the Loan was on the backdrop of the ongoing liquidity crisis in the world financial markets and growth of the cost of borrowings even for banks with investment level ratings. Despite this, Ukrsotsbank managed to attract the desired amount having decreased the margin two times as compared with December 2006, from 1,6% to 0,8% per annum. This has been achieved thanks to team work of all the participants that shows consistently high confidence in Ukrsotsbank by the international financial institutions ", JSCB Ukrsotsbank international activity Division head, Oleksandr Buhlak says.

The first syndicated loan in the amount of USD 13 million was attracted by Ukrsotsbank in September 2003 and the second in the amount of USD 45 million in November 2004, having prolonged it for another year with the increase of the amount to USD 80 million in November 2005, the third in the amount of USD 250 million in December of 2006.