OREANDA-NEWS. April 01, 2014. Sberbank CIB1 has acted as one the Mandated Lead Arrangers and Bookrunners for a trade-related dual currency term loan facility worth up to USD 500 mln for Credit Bank of Moscow.

Together with Sberbank CIB, the list of Mandated Lead Arrangers and Bookrunners included Commerzbank Aktiengesellschaft, HSBC Bank (RR) LLC, ING Bank N.V., Raiffeisen Bank International AG, OJSC ROSBANK, and VTB Bank (Deutschland) AG. Commerzbank Aktiengesellschaft together with ING Bank N.V. acted as Joint Coordinators under the facility. The Mandated Lead Arrangers and Bookrunners were also joined by Citi, ICBC (Moscow) and ZAO UniCredit Bank as Lead Arrangers;  and BayernLB, CREDIT EUROPE BANK N.V., Intesa Sanpaolo Bank Ireland Plc, KBC Bank NV, MORGAN STANLEY, Oberbank AG, UBI BANCA INTERNATIONAL S.A. as Arrangers.

The dual-tranche facility was signed on March 24, 2014 and has tenors of 364 days and 18 months after the signing date for respective tranches with a bullet repayment. The margin for the facility is as follows – 364 days: LIBOR/EURIBOR + 1.75% per annum; 18 months: LIBOR/EURIBOR + 1.95% per annum.

The facility for Credit Bank of Moscow is the first syndicated deal closed for a Russian FI (financial institution) so far this year. The amount raised is the largest in the Borrower’s history of 13 syndicated loan transactions over the last ten plus years. Credit Bank of Moscow is the first private Russian FI borrower since 2011 who was able to attract commitments for a maturity longer than one year.

The strong support from the 17 financial institutions coming from 11 countries including the USA, Europe and Asia for this record breaking transaction demonstrated the recognition and trust in the Borrower’s business strategy that the international banking community has consistently shown to the Borrower.