Mandated lead arrangers HSH Nordbank (facility and documentation agent) and RZB have signed banks into an increased €27.5mn syndicated term loan facility for Bulgaria’s Central Cooperative Bank (CCB).

Due to the facility being oversubscribed in syndication, the borrower elected to increase the volume from an initial launch amount of €11mn.

The tenor is 364 days, extendable for another term of up to 364 days at each lender’s sole discretion. The margin is 1.95% per year.

Repayment is as a bullet, in one single amount.

Participation levels are for €3mn, €2mn and €1mn respectively for co-arranger, lead manager and manager.

Participation fees are 55bp flat (€ 3mn), 40bp flat (€ 2mn) and 30bp flat (€ 1mn).

HSH Nordbank is taking €4mn, while RZB has committed to €3mn.
Co-arrangers taking on €3mn are Alpha Bank, London; Anglo Romanian Bank; Byblos Bank Europe, London; Hypo Alpe-Adria-Bank International; MKB Bank (Hungarian Foreign Trade Bank).

Bankgesellschaft Berlin is a manager, taking €1.5mn. The other managers committing to €1mn are: Bank Austria Creditanstalt; Bayerische Hypo- und Vereinsbank; Dresdner Bank, and Export-Import Bank of the Republic of China.