OREANDA-NEWS. October 24, 2011. Promsvyazbank (PSB) has received a 12-month syndicated loan facility in the total amount of USD 350 mln. The interest rate is Libor + 190 bps. The funds will be used for the financing of trade related contracts of PSB’s clients, reported the press-centre of PSB.

The deal closed with oversubscription from the originally planned amount. Bank of America Securities Limited, Barclays Capital, Commerzbank Aktiengesellschaft, Deutsche Bank AG (London), HSBC Bank plc, J.P. Morgan Limited, Raiffeisen Bank International AG together with Raiffeisenlandesbank Niederosterreich-Wien AG, The Royal Bank of Scotland N.V., Standard Chartered Bank, Wells Fargo Bank, National Association and WestLB AG, London Branch acted as the Initial Mandated Lead Arrangers of the facility.

The syndicate has involved 18 banks.

"We find the deal absolutely successful and it will help us to maintain competitive rates for our corporate clients. PSB confirmed its leading position in Russian banking sector. We are grateful to our partnering banks for their credence in terms of highly volatile capital markets", stated PSB President Artem Konstandyan.