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In the oil sector, Standard Bank London has arranged the first borrowing base facility (against reserves) for a Russian borrower and successfully closed a US$40mn four-year facility for KMOC. Standard is also providing hedging facilities.

In the area of trade finance, Standard Bank London syndicated a US$100mn pre-export finance facility to Magnitogorsk Iron & Steel Works, US$50mn pre-export finance facility for Uralelectromed and was awarded and successfully closed a sole mandate to arrange a US$40mn pre-export finance facility for Sual.

Standard Bank became a member of Micex (Moscow Interbank Currency Exchange) currency section on <

  • xml:namespace prefix = st1 /> May 29, 2003 and in the immediate future the bank will apply for a broker dealer licence from the Securities Commission and is planning on applying for a precious metals licence.