OREANDA-NEWS. On 22 April 2009 was announced, that Open Joint Stock Company "Raiffeisen Bank Aval" had prepaid the last tranche of USD 100 mn of a Syndicated Term Loan Facility. Consequently, the bank has fully prepaid the Facility in the total amount of USD  500 mn.

This syndicated loan was granted in April 2007 by a group of geographically diversified investors represented by over 40 international financial institutions with bullet repayment and a tenor of two years. As previously announced, Raiffeisen Bank Aval already prepaid USD  400 mn to the syndicate’s investors earlier this year.

"Raiffeisen Bank Aval has timely and fully repaid the deal, which remains the largest Syndicated Term Loan Facility ever granted to a Ukrainian financial institution. This transaction once again confirms our financial strength and strong commitment to all partners and customers", said Gerhard Boesch, Deputy CEO of Raiffeisen Bank Aval. "We consider the repayment of this loan as another positive sign from the Ukrainian banking industry to the international financial community", he added.

Raiffeisen Bank Aval was founded in March 1992 as Bank Aval and acquired by Austrian Raiffeisen International Bank-Holding AG in 2005. It is one of the largest Ukrainian banks in terms of a number of core parameters. As at 1 January, 2009 the bank’s equity capital was UAH 7.4 billion, and total assets amounted to almost UAH 65,4 billion (the data are given according to Ukrainian national accounting standards).

Raiffeisen Bank Aval is a subsidiary bank of Raiffeisen International, which operates one of the largest banking networks in Central and Eastern Europe. 17 markets in the region are covered by subsidiary banks, leasing companies and a range of other financial service providers. Over 14.7 million customers are serviced in more than 3,200 business outlets.