OREANDA-NEWS. November 24, 2011. CREDIT BANK OF MOSCOW signed agreement on raising USD 131mln syndicated loan under A/B structured syndicated loan with IFC acting as transaction arranger. The A Loan in the amount of USD 40mln was granted by IFC for a 5-year period in September 2010 for the purpose of financing energy efficient and agricultural projects in Russia.

The B Loan was provided by thirteen foreign commercial banks with Raiffeisen Bank International AG acting as a coordination agent of the facility and Amsterdam Trade Bank N.V., Commerzbank AG, ING, Landesbank Baden-Wuerttemberg, Landesbank Berlin AG, Societe Generale SA and VTB Bank (Deutschland) AG being Initial Mandated Lead Arrangers and bookrunners. The B loan has a tenor of 1 year and a 225 b.p. (2.25%) margin over a 6-month LIBOR. The funds under the B Loan will be used to finance trade business.

This syndicated loan is the eleventh one successfully raised by CREDIT BANK OF MOSCOW in the international syndicated loan market.

"This transaction is a success, - noted Vladimir Chubar, First Deputy Chairman of the Management Board of CREDIT BANK OF MOSCOW. - CBM has proved its reliability and stability by raising this syndicated loan in a very volatile market of international borrowings.”

It is worth mentioning that CBM is an active participant of the market of international borrowings. In July 2011 the Bank successfully placed its USD 200mln 3-year Eurobonds with a fixed coupon rate of 8.25% p.a. Also, in August 2011 Black Sea Trade and Development Bank granted a USD 30mln credit line facility to CBM for a 6-year period for the purpose of supporting the development of small and medium-sized enterprises in Russia.