OREANDA-NEWS. September 22, 2008. JSC "Pravex-Bank" ("Pravex" or the "Borrower") signed its USD42,000,000 Debut Syndicated Short Term Loan Facility (the "Facility"), reported the press-centre of Pravex-Bank.

Launched at USD15 million on 27 June 2008, the Facility was well received in the market and achieved an oversubscription of 180 %. As a result of this successful syndication the Borrower has elected to increase the Facility amount to USD42 million.

"This fact confirms the investors high degree of confidence in Pravex as well as its investment appeal in the international capital market", comments Nataliya Zubrytska, Chairwoman of the Management Board.

Bayerische Landesbank ("BayernLB"), Intesa Sanpaolo S.p.A. ("Intesa") and Standard Bank Plc ("Standard Bank") acted as Initial Mandated Lead Arrangers and Bookrunner of this Facility. Intesa is the Documentation Agent and Standard Bank is the Facility Agent. The syndicate consists of 9 banks from Europe and Middle East.

On 27 June 2008 Intesa and the controlling shareholders of Pravex finalised Intesa's acquisition of 100% of the share capital of Pravex.