ZAO Standard Bank has signed its debut loan facility, completed on a club basis and supported by a strong group of 10 leading international banks.

The US$75mn loan has a tenor of 364 days and repayment is bullet at maturity. The margin is 50bp per year.

Coordinator and facility agent is Mizuho Corporate Bank. Mandated lead arrangers are Bank Austria Creditanstalt; Bank of Tokyo-Mitsubishi UFJ; and Bank WestLB Vostok.

ZAO Standard Bank is the wholly-owned subsidiary of South Africa’s Standard Bank Group. ZAO Standard Bank was established in 2002 and its operating capabilities are the natural evolution from Standard Bank Plc’s successful Russian representative office established in 1997.

ZAO Standard Bank was established in Moscow with the objective of expanding the group’s franchise in Russia through local services to corporate clients and financial institutions.