The International Industrial Bank (IIB) has closed a US$105mn syndicated facility, arranged via initial mandated lead arrangers Calyon, Commerzbank, Landesbank Berlin and Standard Bank.
The borrower originally requested a US$80mn facility, but syndication proved to be popular and the deal was increased. It was signed in Moscow, on December 18 2007. (Click here for previous coverage in GTR eNews November 15, 2007).
Joining as additional mandated lead arrangers are Credit Suisse and ICICI Bank.
Including the lead arrangers, a total of 14 banks are participating in the transaction. The facility pays a margin of 145 basis points over Libor and carries a 364-day tenor. It has been raised to refinance a previous US$120mn loan raised in 2006.)
Established in 1992, IIB has become one of the largest private banks in Russia and is regularly ranked as one of the top five Russian banks in terms of capital.
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