Syndication has closed on a term loan facility for the Russian subsidiary of Italy's UniCredit, ZAO Unicredit bank. The facility is currently in documentation and signing is expected to take place on the week commencing June 16.
The US$300mn, three-year, bullet repayment term loan recorded an oversubscription in syndication and the borrower is anticipated to take up the increased facility amount, which is expected to be approximately US$500mn. The loan pays a margin of 90 basis points over Libor.
Initial mandated lead arrangers and bookrunners are Bank of Tokyo-Mitsubishi UFJ, BayernLB, Landesbank Baden-Wurttemberg, DZ Bank and UniCredit Group.
Proceeds will be used for trade-related transactions of the borrower's customers as well as general corporate purposes.
ZAO Unicredit Bank is wholly-owned by Bank Austria Creditanstalt, a member of UniCredit Group.
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