OREANDA-NEWS. On July 09, 2008 IFC, a member of the World Bank Group, and LOCKO-Bank signed a loan agreement for the provision of an A+B structured US\\\\$ 65 million loan, reported the press-centre of LOCKO-Bank.

The financing package comprises a three-year US\\\\$ 20 million loan for IFC’s own account and a one-year US\\\\$ 45 million loan provided by a syndicate of 13 commercial banks.

The IFC tranche yields 325 basis points over Libor and is supporting the lending program and regional expansion of LOCKO-Bank. The syndicated commercial tranche bears interest of 275 basis points over Libor and is trade related. It was solely bookrunned by IFC and was oversubscribed 2.25 times. The syndicate includes:

Mandated lead arrangers: Banif, Commerzbank, FBN Bank (United Kingdom), OCBC Bank, RZB, VTB Bank (Deutscheland)

Lead arrangers: Bank Leumi, Deutsche Bank, and Erste Bank

Co-lead arrangers: LHB Bank and National City

Arrangers: Anglo-Romanian Bank and BRE Bank

Mikhail Pavlov, Deputy Chairman of the LOCKO-Bank Executive Board, said, “We welcome this financing from IFC and its syndication partners. It will help us serve our clients better, accelerate economic expansion in Russia, and introduce us to the new financiers that participated in the syndicated loan.”

IFC became a shareholder of LOCKO-Bank in 2006, and it has a seat on the board of directors and actively participates in the bank’s strategic management.

Nena Stoiljkovic, IFC Director for Central and Eastern Europe, said, “We are excited to work with LOCKO-Bank as a shareholder and financier. We are very satisfied with the bank’s dynamic development and look forward to its further growth and geographic expansion.”