OREANDA-NEWS. November 25, 2013. Sberbank CIB together with Standard Chartered and Wells Fargo acted as the coordinator of a syndicated loan for DenizBank worth USD 1 bln and with a maturity of one year. The syndicated loan agreement was signed at the ceremony.

The cost of the loan was Libor +0.75% (all-in), a decrease from the syndicated loan provided to DenizBank in 2012, which was Libor +1.35% (all-in). Having grown its syndicated loan by 134% (compared to the previous year’s loan), DenizBank outperformed the rollover rate average of Turkish banks, which is 108%.

A total of 47 financial institutions from 23 countries participated in the deal, with 16 banks participating in the syndicated loan as MLAs: Barclays, Bank of America, BONY Mellon, Citi, Commerzbank, HSBC, ING Bank, JP Morgan Chase, Mizuho, Nova Scotia, RBI, LBBW, Sberbank, Standard Chartered, Unicredit and Wells Fargo.

Alexander Dementyev, Head of the Financial Institutions Division of the Client Management Department, Managing Director, Sberbank CIB, commented: “This deal is a shining example of the synergy effect that Sberbank is capable of achieving as an international financial group. Thanks to the interaction of the teams of DenizBank and Sberbank CIB, and also the fact that DenizBank is a member of the Sberbank Group, the size of the loan and number of participants in the syndicate were increased considerably and the lending price was lowered compared to the loan issued last year. According to the 2018 Strategy, which was approved by Sberbank’s Supervisory Board, the role of international business within the Sberbank Group will grow. To achieve this goal we need to ensure that there is smooth cooperation between teams of the Central Office and subsidiary banks.”