Alfa Bank’s US$30mn one-year loan through mandated arrangers ABN Amro and ING has closed oversubscribed and will be increased to US$50mn. This is the biggest syndicated term loan for a private commercial bank in Russia since 2000.

The margin for the deal is 300bp over Libor.

Five levels were on offer during syndication: arrangers at US$5mn for 80bp; co-arrangers at US$4mn for 70bp (Amsterdam Trade Bank, Dresdner Kleinwort Wasserstein and Noble Trade Finance); lead managers at US$3mn for 60bp (Bred Banque Populaire, Commerzbank, Union Bank of California and Wachovia Bank); co-lead managers at US$2mn for 50bp (Europ íisch-Iranische Handelsbank, Natexis Banques Populaires and Rabobank); and managers at US$1mn for 40bp (Adria Bank, Baden-W írttembergische Bank, Bank Austria Creditanstalt, Bre Bank, Nova Ljubljanska Banka, Import Export Bank of the Republic of China and Yapi Kredi Bank).


The facility has a 360-day extension option built in which is split into two consecutive 180-day periods.