The facility, which was initially launched at US$75mn, was increased due to highly successful senior and general syndication phases which resulted in a significant oversubscription. The facility carries a margin of 1.8% per year and will be used to finance specific trade transactions, including the import or export of gas equipment and technology.
Also noteworthy is the size of the syndicate, which at 39 banks based in Europe, Asia, North America and the Middle East is the also the largest for a Russian borrowing.
Arrangers are: Bank of Tokyo-Mitsubishi; Citigroup;Depfa Investment Bank; Finansbank (Holland); GarantiBank International; and JPMorgan.
Dresdner Kleinwort Wasserstein is a senior co-arranger.
Co-arrangers are: Abu Dhabi Commercial; Bank WestLB Vostok; Erste Bank; EDC; National Savings and Commercial Bank; and Piraeus Bank, London.
Senior lead managers are: AKA; Alpha Bank; Bank of New York; Caixa Geral de Depositos, New York; Landesbank Hessen-Tharingen Girozentrale; State Bank of India; Sumitomo Mitsui Banking Corporation Europe; and Woori Bank.
Lead managers are: Banca Nazionale del Lavoro, London; Bre Bank; Chang Hwa Commercial; Chinatrust Commercial; Emporiki Bank of Greece; Israel Discount Bank of New York; LRP Landesbank Rheinland-Pfalz; Shanghai Commercial and Savings Bank; United Bank; and ZAO Banca Intesa.
Managers are: Banca Monte dei Paschi di Siena, Frankfurt; Bank Hapoalim; Demir-Halk Bank (Nederland); OKO Bank; and Rabobank International.