Bank of Moscow has mandated BayernLB, Bayerische Hypo-und Vereinsbank, Commerzbank, Depfa Bank, DZ Bank, Mizuho Corporate Bank and SMBC to arrange a US$400mn syndicated term loan facility.
The facility is about to be launched into syndication, and the funds raised will be used for trade-related financings, as well as general working capital purposes. The deal has a tenor of 30 months.
BayernLB, Commerzbank, Mizuho and SMBC are bookrunners on the deal, with BayernLB acting as facility and documentation agent. Commerzbank is responsible for the information memorandum and DZ Bank is the publicity and signing agent.
Bank of Moscow was established in 1995 as a open joint-stock company, and since December 2004 the bank’s shares have been traded on the Moscow Interbank Currency Exchange (MICEX). In terms of deposits, the bank is ranked as the fourth largest Russian bank.
It is rated Baa2 (outlook stable) by Moody’s Investors Service, and BBB with stable outlook by Fitch Ratings.
The bank previously ventured into the syndications market towards the end of last year, raising a two-year US$400mn loan via mandated lead arrangers BNP Paribas, Deutsche Bank, SMBC, and WestLB.