Ukraine’s Prominvestbank has signed a US$60mn syndicated trade-related loan arranged by Deutsche Bank AG, London and ING Wholesale Banking.

The facility’s has a one-year tenor with a one-year extension option, and carries a margin of 320bp. The proceeds will be used to finance select import and export contracts of the bank. Following a substantial oversubscription, the deal was increased from the launch amount of US$25mn, and represents the largest facility to date raised by Prominvestbank in the international loan market.

Prominvestbank is a universal commercial bank created in 1992, and ranks as Ukraine’s third largest bank in terms of total assets.