OREANDA-NEWS. January 13, 2011. BANK URALSIB (OJSC “URALSIB” or the Bank) (RTS: USBN) raised one-year syndicated term loan with the total amount of USD US 275 mln and margin 2,5% over LIBOR. The proceeds from the loan will be used to finance trade related contracts of URALSIB's clients.
Syndicated loan was jointly arranged by Commerzbank Aktiengesellschaft, Credit Agricole CIB, Credit Suisse AG, ING Bank N.V., Raiffeisen Bank International AG together with ZAO Raiffeisenbank and VTB Bank (Deutschland) AG.
The facility attracted tremendous support from the market: with the initial amount of USD US 150 mln was oversubscribed by 83%. It led to considerable increase of the final facility amount and reached USD US 275 mln. A total of 17 separate lenders spanning across Europe and the U.S. joined the Facility. Apart from the above mentioned Initial Mandated Lead Arrangers the following financial institutions participated in the deal with deferent roles: Bank of Ireland, BHF Bank Aktiengesellschaft, BNP Paribas Ireland, ZAO Citibank, Credit Europe Bank N.V., Garantibank International N.V., JP Morgan Chase Bank, N.A., Raiffeisenlandesbank Oberosterreich Aktiengesellschaft, Standard Chartered Bank, Wells Fargo Bank.
"The success of the deal and the interest manifested by the international banking community give evidence of URALSIB’s solid reputation as a reliable partner not only in Russia but also internationally. For us the deal is also very important due to the fact, that it is the first major post crisis transaction for URALSIB, completed on favorable market terms and conditions and with the participation of a large group of banks",- said Alexander Dementiev, Deputy Chairman of URALSIB Management Board.
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