Fortis Bank, RZB and Standard Bank, as mandated lead arrangers, with a consortium of lenders, have signed into the extension and increase of a US$60mn trade-related syndicated term loan facility for Bank Forum.


Due to strong investor demand the deal was increased to US$85mn. Proceeds will be used to finance trade-related projects of the borrower’s customers.


Some 19 banks from the US, Asia and Europe have joined the facility. RZB and SB acted as bookrunners. SB is facility and documentation agent.


Senior arrangers are: Anglo-Romanian Bank; HSBC; National City Bank; Piraeus Bank; Rosemount Global Trade Finance Fund.


Lead managers are: AKA Ausfuhrkredit; Alpha Bank; American Express Bank; Icebank; VakifBank International.


Managers are: Banque de Commerce et de Placements; Bayerische Landesbank; Commerzbank; Dresdner Bank; Landesbank Berlin; Nova Ljubljanska banka; Trasta Komercbanka; The Export-Import Bank of the Republic of China.


The 364-day facility has a margin of 215 basis points per year.


Bank Forum is the 12th largest bank in Ukraine in terms of total assets and it expects to be in 10th position by the year end.


The company is rated B2/NP for long and short-term foreign currency deposits (positive/stable outlook respectively) by Moody’s Investors Service and B- and B issuer default ratings (stable outlook) for long-term and short-term deposits respectively by Fitch Ratings.