On behalf of Bank Zenit, banks have been mandated to arrange a US$135mn syndicated trade-related finance facility. Mandated lead arrangers are: Commerzbank, Dresdner Kleinwort, Natixis, RZB and UniCredit Group (acting through Bank Austria Credianstalt – BACA, Bayerische Hypo- und Vereinsbank and International Moscow Bank (UniCredit Group).
The margin is 1% per year; the tenor is 364 days.
The loan refinances a US$135mn syndicated trade finance facility from June 2006. The proceeds of the facility will be used for the borrower’s trade financing activities.
Bookrunners are Commerzbank, DKIB, Natixis, RZB, and BACA.
Dresdner is facility agent.
Tickets on offer are: lead arrangers with US$7.5mn or more at 50bp flat; arrangers with US$5mn at 40bp flat; lead managers with US$3mn at 30bp flat; managers with US$2mn at 20bp flat.
Bank Zenit was established in 1994 and began operations a year later. It is the 20th largest bank by assets in Russia.