Banks have been mandated to arrange a dual tranche US$500mn syndicated term loan facility supporting MDM Bank’s trade financing activities.
The banks are: Alpha Bank, Bank of Tokyo-Mitsubishi UFJ, Commerzbank, Fortis Bank,
ICICI Bank UK, Natixis, RZB and Sumitomo Mitsui Banking Corporation Europe, are
There are two tranches of one year and three years.
General syndication has been launched and banks were invited to participate at one of the following levels:
MLAs with US$35mn: Tranche A – 50bp; Tranche B – 100bp
Lead arrangers with US$25mn: A – 40bp; B – 85bp
Arrangers with US$15mn: A – 35bp; B – 75bp
Managers with US$10mn: A – 30bp; B – 70bp
Participants with US$5mn: A – 25bp; B – 65bp
MDM Bank was founded in December 1993 and is one of the most profitable banks in
Russia. MDM Bank offers a full range of services to clients and has one of the highest credit ratings among privately-owned Russian banks. In May it was upgraded by Moody’s to Ba1. MDM is also rated by Standard & Poor’s (BB-, stable), and Fitch Ratings (BB-, positive) and is the only Russian financial organisation that has been given a public corporate governance rating by Standard & Poor’s (6+).