Bank of Khanty-Mansiysk signs syndication

Last Updated January 25, 2008

Joint bookrunners and mandated lead arrangers Erste Bank, Landesbank Berlin and Bank Austria Creditanstalt signed a US$62.5mn syndicated loan facility for the Russian institution Bank of Khanty-Mansiysk (BKM).

The facility was originally launched at US$60mn, but was slightly oversubscribed. It has a tenor of 364 days, and pays a margin of 100 basis points per year over Libor. The proceeds of the facility will be used to finance trade contracts of BKM's clients.

A total of ten banks took part in the transaction. Joining in syndication as arrangers are Garanti Bank International and ICICI Bank Eurasia. Co-arrangers are ABN Amro, BayernLB, Commerzbank and Intesa Sanpaolo. National Bank of Egypt joined as a participant.

Arrnagers were invited to make a take and hold commitment of US$7.5mn or above. Co-arrangers could commit US$5mn, lead managers US$3mn, managers, US$2mn and participants could take tickets of US$1mn.