OREANDA-NEWS. November 29, 2010. Bank ZENIT signed an agreement for the syndicated loan to the amount of USD 100 mln. for 364 days. The loan purpose is to finance the trading transactions of the Bank's clients, reported the press-centre of Bank ZENIT.

The club-deal arrangers were Banca Intesa, Citi, Commerzbank Aktiengesellschaft, Erste Group Bank AG, FBN Bank (UK) Ltd, Garantibank International N.V., Raiffeisen Bank International AG (in consort with CJSC Raiffeisenbank), UniCredit Group, VTB Bank (Deutschland) AG and WestLB. Commerzbank AG was the transaction coordinator and documentation agent. Commerzbank Aktiengesellschaft, Filiale Luxemburg became the facility agent.

The subscription amount made up USD 150 mln. Bank ZENIT decided to draw down a part of the loan to the amount of USD 100 mln. Thus, the oversubscription amounted to 50%, which, in the opinion of the parties to the agreement, showed trust on the part of the international investors towards the banking system of Russia, in general and Bank ZENIT, in particular.