Deutsche Bank AG London and WestLB AG London, acting as mandated lead arrangers and bookrunners, have closed syndication of a €75mn syndicated term loan facility for Raiffeisenbank (Bulgaria) EAD.

The facility, which was initially launched at €30mn and subsequently at €50mn into general syndication was increased due to successful senior and general syndication phases. The two-year loan will benefit from a letter of comfort from RZB-Austria and pays a margin of 1.25% per year.

Raiffeisenbank (Bulgaria) EAD, a wholly-owned subsidiary of RZB-Austria, is the seventh largest bank in Bulgaria in terms of total assets. Raiffeisenbank (Bulgaria) EAD is a universal bank with a network of 39 outlets throughout Bulgaria. In 2003, the bank’s loan portfolio increased by 50%, while customer deposits grew by 27%. It is among the top three lenders to corporates in the country with a market share of 9%.