Latvia’s Aizkraukles banka (ABLV) has mandated Bayerische Landesbank (BayernLB), DZ Bank and RZB as mandated lead arrangers to arrange on its behalf an €75mn syndicated term loan facility.
The tenor is 364 days and the borrower may request an extension for another 364 days at the lenders option.
Repayment is subject to an extension option with bullet repayment. The margin is 60bp per year.
Participation levels: €10mn (55bp), €7.5mn (50bp), €5mn (40bp), and €2.5mn(30bp).
The loan is for repayment of an existing €50mn term loan facility dated June 29, 2006 and for general funding purposes.
ABLV is the seventh largest bank in Latvia (by total assets) with total assets of €1.16bn and total equity of €97m. By net profit, it is the fifth largest bank in Latvia.
It is a privately owned, independent and fast growing institution.