Acting as mandated lead arranger and bookrunner, Standard Bank has launched general syndication for a US$10mn trade-related term loan facility for Credit Dnepr Bank. It is the Ukrainian bank’s debut in the syndications market.
The facility pays a margin of 300 basis points over Libor per year, and carries a tenor of 364 days.
Potential lenders can participate in the transaction as an arranger for US$3mn, with a participation fee of 60bp and an all-in yield of 3.60%. Co-arrangers could opt to commit US$2mn, for 50bp and an all-in yield of 3.50% while senior lead managers can commit US$1mn for 40bps and an all-in yield of 3.40%.
Credit Dnepr is one of the largest regional banks in Ukraine, and is rated B3 by Moody’s and B- by Fitch.