Russia’s Transcapitalbank has signed a US$70mn facility agreement via initial mandated lead arrangers Banco Finantia, Commerzbank, and VTB Bank.
Before the deal was launched into general syndication, RZB also joined as a mandated lead arranger.
The facility is being used by the borrower to finance foreign trade contracts of its customers. The deal has a tenor of 364 days, and pays a margin of 295 basis points per year.
The facility proved popular, having been originally launched at US$30mn, and closing oversubscribed. It attracted a total of 21 banks.
Joining as arrangers are: ABN Amro, Credit Europe Bank, FBN Bank and VTB Bank. National Bank of Greece is a co-arranger. Lead managers are: Ausfuhrkredit Gesellschaft, Banque BIA, Internationale Handelsbank, Sparebanken Ost and UBS.
Managers are Adria Bank, Banque de Commerce et de Placements, BRED Banque Populaire, National City Bank, Parex Bank, YapiKredi Bank Moscow and YapiKredi Bank Nederland.
Transcapitalbank is an independent universal commercial bank. The bank works closely with its key strategic shareholder the European Bank for Reconstruction and Development (EBRD).
As of May 2008, ratings agency Moody’s Investor Services granted the bank a positive outlook for its B1 foreign currency unsecured debt rating, upgrading it from its previous rating of stable.
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