Ak Bars raises oversubscription

Ak Bars Bank in Russia has closed syndication on a US$200mn trade-related loan arranged by mandated lead arrangers and bookrunners Banco Finantia, Commerzbank, ICICI Bank, Landesbank Berlin and WestLB.

The facility was originally launched at the end of February at US$75mn and was substantially oversubscribed. Ak Bars decided however to scale back commitments to US$200mn.
It carries a one-year tenor, and pays a margin of 1.50% per year. A total of 28 banks took part in the syndication.