Standard Bank Plc and ZAO Standard Bank Moscow, as mandated lead arrangers and bookrunners, have launched a US$20mn syndicated trade-related term loan facility for Russ-Bank.
The facility has a tenor of 364 days, extendable for a further year at the lender’s option, and will be used for trade-related finance purposes.
Arrangers have been offered takes of US$4mn or more, co-arrangers US$3mn, lead managers US$2mn, and managers US$1mn.
Russ-Bank was established in 1994 (initially as Fintrustbank whose name was changed in 1995 to Russ-Bank). It provides a wide range of corporate and retail banking services, including the provision of loans, auto-loans, mortgage, deposit-taking, and bank card services, securities trading, foreign exchange and precious metals transactions, leasing, correspondent banking, originating guarantees, and trade and project finance.
Russ-Bank is partly owned and controlled by Russia’s largest insurance company Rosgosstrakh (RGS) with total assets in excess of US$2bn and capital of US$538mn as of December 31, 2005.