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Deutsche Bank has launched into general syndication a US$40mn syndicated term loan facility for Hungary’s General Banking & Trust Co Ltd (GBT).

Funds will be on-lent to nominated customers of GBT to finance specific trade contracts. The loan has a margin of 0.75% pa and a tenor of two years.

The mandated arranger has recently concluded a successful pre-syndication phase where Central European International Bank Ltd, HVB Bank Hungary Rt, LB Kiel and Rabobank International have joined the transaction at arranger level.

Banks will be invited to participate at the following levels: arranger (US$5mn), co-arranger (US$4mn), lead manager (US$3mn), manager (US$2mn) and participant (US$1mn).

GBT is among Hungary’s leading banks with total assets as at December 31, 2001 of US$1.160bn and total equity of US$170.9mn. This transaction represents GBT’s second syndicated loan this year having raised US$50mn working capital loan in March.