OREANDA-NEWS. June 24, 2009. Belgazprombank has repaid the US45 million syndicated loan facility taken in June 2007 for one year. It was prolonged for another year and increased from US 35 to US 45 million in June 2008. BayernLB, Gazprombank and VTB oversaw the deal, reported the press-centre of Belgazprombank.

At present, Belgazprombank is negotiating a US 30 million borrowing from the European Bank for Reconstruction and Development. In December 2008, the banks signed a contract on a five-year US 40 million loan for SME funding. The first amount of US 10 million was transferred to Belgazpromabank in December, the remaining amount will be transferred in two portions. Also, the EBRD is increasing the US 1 million credit line for trade finance.

In the circumstances of stagnation in the international syndicated loan market, Belgazprombank managed to sign several bilateral deals with its partners that previously participated in syndicated loan facilities. In particular, the bank is working on two interbank loans – 4 million euro and US 5 million.

The bank also expands its trade finance operations. In March, the International Finance Corporation opened a US 10 million credit line for that purpose. Currently, the bank negotiates a possibility of co-funding projects to raise energy efficiency with the IFC.

One of the Belgazprombank’s major stakeholders, Gazprombank, opened a US 50 million credit line to it. Liquidity adequate in the local market, the bank does not use all of these funds.

Belgazprombank intends to reduce the share of interbank loans in its resources in accordance with the bank’s balance guidelines worked out by the shareholders. The share of interbank loans will be cut from 40% to 30%.