Belarusian bank Belinvestbank is returning to the syndicated loan market eager to raise its second syndication of US$35mn.

It has mandated Bayerische Landesbank, VTB Bank Europe and VTB Bank to act as mandated lead arrangers.

The facility pays a margin of 3.3% per year, and carries a tenor of one year with a further one year extension option. It is expected the loan will be signed towards the end of September or early October.

Proceeds of the loan will be used to fund the bank’s trade operations, as well as refinance a syndicated loan it signed for in March this year. This was its first syndication for €
12mn and US$11mn. It had a six-month tenor and paid a margin of 3.65% over Libor per year.
The previous dual tranche transaction was arranged by sole MLA VTB Bank, and was seen as an unusual transaction as state-controlled banks in Belarus are not frequent visitors to the syndicated market.