Last Updated May 19, 2008
Belpromstroibank (JSC BSP Bank), the majority state owned Belarusian bank, signed a 364-day, US$78mn syndicated term loan facility on May 13 via mandated lead arrangers and bookrunners Banco Finantia, BayernLB, Credit Suisse and Fortis.
The facility amount was initially set at US$40mn, but was increased after generating a substantial oversubscription in syndication.
BayernLB acted as facility agent.
The proceeds of the facility, which is priced at Libor +3.20 basis points and structured as a bullet repayment, will be used to finance trade-related transactions of the borrower's clients.
JSC BPS-Bank was established in 1923 and performs the joint role of commercial and export-import bank in Belarus, where it is ranked 4th by assets, equity and loan investments. It was also the first bank in the country to have obtained ratings from Moody's Investors Service: it is rated Ba1 long-term on local currency deposits and B2 on foreign currency deposits (outlook "Stable”).
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