Standard Bank Plc and WestLB AG, London, as joint mandated lead arrangers and bookrunners, have signed banks into a trade-related term loan facility for UkrGasBank, Ukraine. Credit Europe Bank, ING, and VTB Bank are also MLAs, with US$5mn takes.
UkrGasBank is the 17th largest bank in Ukraine in terms of total assets and the 13th largest in terms of deposits. The borrower is rated ‘B2’ by Moody”s.
The facility was launched at US$20mn and after a very successful syndication, raising 130% oversubscription, was closed at US$46mn. It is the second syndicated loan for this borrower.
The facility carries a margin of 2.7% per year over Libor and will be used to finance specific export/import contracts of the borrower’s strategic clients.
Banco Finantia, Icebank, De Indonesische Overzeese Bank, and State Export-Import Bank of Ukraine are co-arrangers with US$3mn commitments.
AKA Ausfuhrkredit, Commerzbank, Landesbank Berlin, and National City Bank are senior lead managers with US$2mn each.
Trade & Development Bank of Mongolia is a lead manager with US$1mn.