Deutsche Bank London and Standard Bank, as mandated lead arrangers and bookrunners, have signed a US$325mn syndicated term loan facility for The State Export-Import Bank of Ukraine (Ukreximbank). Standard acted as facility agent.
The facility has a tenor of 364 days, and pays a margin of 0.80 per year over Libor.
The deal was launched at an amount of US$100mn. Due to the very positive response from the market, the deal was oversubscribed by 239% and, after lenders were scaled back, the facility amount was increased to US$325mn.
The facility will be used for general trade purposes.
The syndicate of bank consists of more then 30 bank participants, among which are:
Lead arrangers – Commercial Bank of Kuwait; Barclays Bank.
Arrangers – Burgan Bank; Wachovia Bank.
Lead managers – Al Ahli Bank of Kuwait; American Express Bank; BBVA; BTMU (Europe); UBS.
Ukreximbank was founded in January 1992 in Kiev following the independence of Ukraine in 1991. The Ukrainian state owns 100% of the shares in its capital.