OREANDA-NEWS. Otkritie Financial Corporation Bank has raised a USD 120 million syndicated loan from a group of foreign banks. The loan will mature in one year; the interest rate is LIBOR+2.5%. The purpose of the loan is to provide financing to gold-mining companies being the Bank's clients.

The lead arrangers are Commerzbank, Citi, Raiffeisen Bank International, JPMorgan Chase Bank, ICBC (Moscow), ING Commercial Banking, Societe Generale Group, AKA.

"Our ability to raise a large international syndicated loan in the current situation shows the confidence placed by foreign banks in Otkritie FC Bank," said Otkritie FC Bank Senior Vice-President Yuri Lekarev. "It was important for us to see that our foreign partners were not only ready to continue our long-term successful cooperation in arranging syndicated loans for gold-mining companies but were also willing, as before, to provide as much funds as might be required to satisfy needs of our clients from the gold-mining industry."

This loan is yet another successful effort of Otkritie FC Bank to raise foreign investors' funds to finance Russian gold-mining companies. The total of syndicated loans (including the one in question) raised by the bank to date exceeds USD 1.6 billion. Ten of 16 syndicated loans have been raised to finance gold-mining companies.

Otkritie FC Bank has continuously been a TOP-3 bank on the precious metals market. In 2007-2013, the bank was named the best Russian bank on the precious metals market.