VEB considers new syndication
Vnesheconombank (VEB) is potentially looking to raise a syndicated loan of up to US$1bn, according to market sources.
The Russian state-owned bank is said to be in early discussions with lenders about the financing, which will be used to refinance last year’s US$2.45bn facility.
Last year’s facility was priced at 130 basis points over six-month Libor. The borrower will no doubt want to achieve similar pricing this time.
VEB was not available for comment when contacted by GTR.
The 2011 facility was led by Barclays. Joining as additional mandated lead arrangers and bookrunners were: BTMU, BNP Paribas, China Development Bank, Commerzbank, Crédit Agricole, Credit Suisse, HSBC, Mizuho Corporate Bank, Société Générale and SMBC.
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