Mandated lead arrangers and bookrunners Bank of Tokyo-Mitsubishi UFJ and Calyon have closed a US$100mn trade-related facility for the Russian bank Ak Bars Bank.

 

The deal is priced at 70 basis points per year over Libor, and carries a tenor of one year. It will be used to fund trade finance activities of the borrower.

Joining the facility during syndication as additional MLAs are Erste Bank, Wachovia Bank, Citi and Masreqbank. Co-arrangers are Taiwan Business Bank and Banca Intesa. Lead managers are Hua Nan Commercial Bank, Taiwan Cooperative Bank, Commerzbank, UBS Bank and National Bank of Egypt.