Russia's Nomos Bank has closed its syndicated loan facility at US$135mn via mandated lead arrangers RZB and Standard Bank.
The deal proved popular, with the original request of US$80mn being oversubscribed. A total of 24 banks will participate in the deal.
"Given the current complicated liquidity situation in the international financial market, such result testifies to investors" high confidence in Nomos-BANK,” comments Yuri Lekarev, vice-president of Nomos.
The funds are being lent on an unsecured basis, with a tenor of one year and an optional one-year extension. The margin being paid is 1.55% over Libor per year.
The funds will be used to finance gold mining enterprises of its customers, usually in the form of pre-export financing.
Since 2001, the bank has secured 13 syndicated loans totalling over US$1bn, of which six facilities were used to finance gold mining companies.
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