Bank UralSib in Russia has signed a US$313mn syndicated term loan facility jointly arranged by BayernLB, Credit Suisse, Emirates NBD, ING Bank, and National Bank of Oman. The facility was oversubscribed and increased from the original request of US$150mn.
The financing carried a tenor of 364 days, and pays a margin of 100 basis points. It attracted a total of 32 lenders from 19 countries, and will be used to finance trade contracts of UralSib’s corporate clients.
The deal is the first syndicated transaction to be raised in 2008. Commenting on this achievement, Alexander Dementiev, deputy chairman of the management board of UralSib says: “It was launched in a difficult market environment and the syndication was very professionally handled by a powerful group of arrangers and was very well received by the market.
“It is particularly important for us that the geographic outreach was very broad and the syndicate includes a good number of banks from across the globe, both our traditional partners and relationship banks, and first-time lenders to URALSIB.”
Reader Comments