OREANDA-NEWS. August 18, 2011. Home Credit & Finance Bank (“HCFB”), rated Moody’s Ba3, S&P B+, Fitch BB-, has successfully closed a dual tranche USD / RUB Syndicated Term Loan Facility amounting to USD200 million, reported the press-centre of HCFB.

We are pleased with the result of the transaction and the support provided by the banks. We believe that this important benchmark transaction once again demonstrates the high credit quality of HCFB and the level of confidence from the largest Russian and internationalbanks in the continuing success of our business. The proceeds received under this loan will be used to further support HCFB business and portfolio growth in Russia going forward.
Ivan Svitek, HCFB Chairman of the Management Board
 
The aggregate amount of the transaction is equivalent to USD200 million, with the Facility provided in two tranches: USD60 million and RUB4.04 billion with a margin of 195 bps p.a. over Libor/MosPrime respectively. The initial maturity date is in one year, with a potential extension for an additional year.

The proceeds from the Facility will be used to finance HCFB’s continued expansion and to support further portfolio growth.

The Syndicated Term Loan Facility was arranged by six banks acting as Mandated Lead Arrangers and Bookrunners: Credit Agricole CIB, Gazprombank (Open Joint-stock Company), HSBC, JSC VTB Bank, Raiffeisenbank – also acting as a Facility Agent, and Rosbank (Societe Generale Group) – also acting as Coordinating Mandated Lead Arranger and Documentation Agent. Allen & Overy Legal Services acted as Legal Counsel for the transaction.