OREANDA-NEWS. On July 01, 2008 JSC VTB Bank announced that a Syndicated Loan arranged for JSC Belgazprombank, Minsk (the “Borrower”), was successfully extended and increased up to USD45,000,000, reported the press-centre of VTB Bank.

The loan was extended for further 364 days and will be used for financing trade-related transactions of the Borrower’s customers.

The Facility was well received by investors achieving an almost 30 per cent oversubscription in the general syndication. 12 banks from 8 countries have joined the transaction.

For reference:
Belgazprombank was established in November 1990 and is presently ranked 3rd among the country’s banks in terms of shareholders` equity and 7th in terms of assets. Major shareholders of Belgazprombank with 96.16  per cent of shareholding are JSC Gazprom and CJSC Gazprombank.

Belgazprombank has the following ratings: long- and short-term ratings of “B” from the Fitch Ratings agency with "Stable" Outlook.