BayernLB and VTB Bank have been mandated to arrange a US$25mn syndicated term loan for Belgazprombank. The proceeds of the loan will be used to refinance an existing US$21mn syndicated term loan facility signed in 2005, as well as supporting trade-related transactions for the bank’s clients.


General syndication has also been launched, and the facility carries a maturity of 364 days, with repayment due in bullet form. It pays a margin of 287.5 basis points per year.
Both VTB Europe and VTB in Russia are arranging the deal, with VTB Europe acting as facility agent.


Belgazprombank is the seventh largest bank in Belarus in terms of assets and shareholders” equity. Both Gazprom and Gazprombank jointly hold a 67.82% stake in the bank, but by the end of 2007 the share held by the Gazprom Group will increase and is set to exceed 85%.