Raiffeisenbank has signed a US$1bn syndicated loan facility via initial mandated lead arrangers and bookrunners The Bank of Tokyo-Mitsubishi UFJ, Barclays Bank, BayernLB, Citi, Deutsche Bank, Intesa Sanpaolo Bank Ireland, Landesbank Baden-Wurttemberg, Miuzuho Corporate Bank, UniCredit, Wachovia and WestLB.
The borrower originally approached the market with a US$850mn request, but the facility was oversubscribed and was increased to US$1bn. The proceeds of the loan are being used for general corporate purposes, including trade finance.
It carries a tenor of two years, with repayment due in bullet form. The margin is 65 basis points per year.
Joining as mandated lead arrangers are: DZ Bank and the RLB Group. Bawag Bank joined as an arranger, while American Express Bank and Erste Bank joined as co-arrangers. The National Bank of Egypt and Pohjola Bank joined as lead managers.
Raiffeisenbank is the largest foreign-owned bank in Russia, and ranks 7th in terms of assest among top Russian banks.
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