Russia’s Bank Center-invest has closed its 364-day US$80mn syndicated term loan facility. This is the second successful international syndicated loan for Center-invest. The first was a US$45mn A/B loan arranged by the EBRD in July 2006 with 15 participants.
The latest facility was arranged by Commerzbank and Standard Bank Plc as initial mandated lead arrangers. Standard acted as documentation and facility agent.
The facility was launched at U$40mn and raised over US$120mn in commitments.
Center-invest elected to accept the US$80mn as the final facility amount. Some 38 banks joined the syndicate.
Initial Maturity Date: The loan is priced at Libor + 1.90% per year.