JSC Vneshtorgbank, Moscow Narodny Bank and JSB Gazprombank (CJSC) acting as mandated lead arrangers and bookrunners have launched a US$10mn/€5mn syndicated term facility for Belgazprombank of Belarus.

The loan bears margin of 3.75% per year above Libor and has a tenor of 364 days with an extension option for further 364 days.

This is the second syndication of the bank in the international financial markets. In 2005 Belgazprombank raised the US$15mn syndicated term loan facility from European banks.

Belgazprombank (BGPB) was established in 1990 and is among the country’s top 10 banks in terms of assets and shareholders’ equity (67.82% of BGPB’s shares belongs to JSC Gazprom and JSB Gazprombank).

Belgazprombank is a universal commercial bank. In its status of an authorised bank of JSC Gazprom, the bank benefits from effecting transactions for natural gas supplied by JSC Gazprom to the Belarussian market.

Since 1994 BGPB cooperates with international financial institutions.

Belgazprombank was accredited by EBRD to participate in its programme aimed to support small and medium-size enterprises in the Republic of Belarus. Active cooperation with EBRD and IFC allows the bank to provide its customers with comprehensive lending products within the credit lines from these international institutions.

In 2005, Fitch Ratings Agency assigned Belgazprombank long-term rating B- with Stable Outlook.