Bank of Tokyo-Mitsubishi UFJ, Commerzbank, ICICI Bank UK and Natixis, as initial mandated lead arrangers, have closed a US$340mn trade finance facility for Russia’s Alfa-Bank.

Due to a significant oversubscription, the transaction was increased from its launch amount of US$200mn to US$340mn.

The facility was priced at 45bp over Libor with a tenor of 364 days. The purpose of the loan is trade finance.

The other participants in the syndicate are: Bank Hapoalim, Barclays Capital, National Bank of Egypt (UK), National Bank of Greece, SMBC, and State Bank of India as additional mandated lead arrangers; American Express, Merrill Lynch, Alpha Bank, BNP Paribas, Sanpaolo IMI Bank Ireland, Wachovia Bank, and WestLB as lead arrangers; Agricultural Bank of China, Arab Investment Company, BBVA Ireland, Bred Banque Populaire, Credit Suisse, Erste Bank and MKB as arrangers; Banque BIA, Export-Import Bank of the Republic of China, Bank of Ireland, and Rabobank as co-arrangers; Taiwan Co-Operative Bank, AKA Ausfuhrkredit, Banco Popolare di Verona e Novara London, Bank of Montreal, Bank of New York, CoBank, , Investec, Landesbank Sachsen Girozentrale, OKO Bank, and Swedbank as lead managers; Banca Monte dei Paschi di Siena, Dresdner Bank and SEB as managers.