OREANDA-NEWS. On May 30, 2008 OJSC Bank ZENIT announced that it has launched USD 218,000,000 Syndicated Trade Related Finance Facility. The loan proceeds will be used to finance foreign trade operations of its clients, reported the press-centre of Bank ZENIT.

The Mandated Lead Arrangers of the Facility are Bayerische Landesbank ("BayernLB"), Commerzbank Aktiengesellschaft ("Commerzbank"), Erste Bank der oesterreichischen Sparkasse AG ("Erste"), Landesbank Berlin AG ("LBB") и Raiffeisen Zentralbank Osterreich AG ("RZB"). The loan has been raised at the interest rate of LIBOR + 1,45% for 1 year.

The facility was launched on 24 April 2008 at US\\$ 150,000,000. Due to the very positive response from the market, the deal was oversubscribed by almost 50% and the facility amount increased accordingly.