OREANDA-NEWS. August 18, 2008. Rietumu Bank has successfully attracted yet another none-collateral syndicated loan in the amount of EUR 75 million, reported the press-centre of Rietumu Bank.

The syndicated loan has been granted for one year at an interest rate EURIBOR + 0.95% by a consortium of leading European and American banks. Among the banks extending the non-secured syndication are JP Morgan, Commerzbank AG, HSH Nordbank, WestLB AG and Raiffeisen Bank.

“This transaction is a result of our long-term successful collaboration with the banks-partners from Europe and the US. Nowadays, when credit prices are globally rising, the deal itself shows a strong confidence from international financial organisations to Rietumu Bank”, said Mr Alexander Kalinovski, President of Rietumu Bank.
 
The attracted resources will be channeled towards further development of credit financing on various markets, including progressive CIS markets. Rietumu Bank plans to continue expansion in Russia and other Eastern European countries by enlarging both the customer base and the array of services made available to customers in the nearest future.

We have recently announced that Rietumu Bank completed two buy-out deals with the leasing and brokerage companies WestLeasing Group (Russia, Belarus) and Oschadna Companya (Ukraine) in 2008.

The extension of EUR 75 million syndicated loan has been already the fourth deal of this kind for Rietumu Bank since 2006.