International Industrial Bank (IIB) has signed a 364-day US$120mn syndicated term loan facility. Calyon, Credit Suisse and Standard Bank Plc were mandated by IIB as mandated lead arrangers and bookrunners to arrange initially a US$60mn 364-day syndicated term loan.


Fortis joined as MLA after the transaction was launched, while Standard acted as facility agent.


The facility generated a healthy oversubscription – with commitments totalling more than twice the announced amount with the borrower electing to take US$120mn.


The proceeds will be used to finance trade-related transactions of the borrower’s clients.


There will be a bullet repayment, while the margin stands at Libor + 1.75% per year.


Established in 1992, IIB is one of Russia’s best capitalised banks, with a total equity of approximately US$1.1bn and a Tier 1 Capital Ratio of 45% as of December 31, 2005. Joining as arrangers are: Banco Finantia, Bank Austria Creditanstalt, Bank of Montreal, Bank of Taiwan Offshore Banking Branch, Bred Banque Populaire, FBN Bank (UK), ICICI Bank, Landesbank Berlin and Nedbank, London.


Lead managers are: Shanghai Commercial and Savings Bank Offshore Banking Branch, Banque BIA, Byblos Bank Europe, Misr Bank-Europe, NLB, Rabobank International, The Arab Investment Company and Banif – Banco Internacional do Funchal.