Rosbank in Russia has closed a US$270mn syndicated term loan facility. It was well-received by the market, with the bank having initially looked to raise US$125mn.
Mandated lead arrangers and bookrunners on the deal are Erste Bank, Landesbank, RZB, and WestLB. The facility was launched on May 7.
The facility carries a tenor of one year, and a year extension option. It pays a margin of 75 basis points, and repayment is due in bullet form.
The funds will be used for both general corporate and trade finance purposes.
During syndication, four lead arrangers joined: Burgan Bank, Demir-Halk Bank, HSH Nordbank and Landesbank Baden-Wurttemberg.
DZ Bank joined as an arranger, and The Bank of New York Mellon joined as a co-arranger.
Lead managers are Bank Austria, Banque BIA, BBVA Ireland, Commerzbank, Pohjola Bank and WGZ Bank. BPV Finance joined as a manager.
Rosbank is 57.57% owned by Société Générale, and 37.31% by the Interros Group, one of Russia’s largest private investment group.
The bank is Russia’s 7th largest bank by total assets and total equity, and as of the end of 2007 total assets exceeded US$16bn.
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