Nomos closes a US$150mn trade-related loan via mandated lead arrangers Citi, RZB and SMBC.
The facility is divided into two tranches, one carrying a tenor of one year and paying a margin of 70 basis points per year, and the other carrying a two-year maturity paying a margin of 100bp per year. The funds will be used to refinance an existing US$80mn facility, as well as other trade-related purposes.
Nomos is a relatively frequent visitor to the international syndicated market, and this facility marks the seventh year that the bank has tapped for a syndicated loan. Its first facility was a US$17mn gold secured short-term syndicated loan signed in 2001. Since then the bank has been able to raise a further six purely gold-related syndicated loans, with each one being healthily oversubscribed. To date none of the Russian gold producers have failed to meet their gold production/delivery obligations towards the bank.
In August 2005, the bank also signed its first unsecured syndicated loan facility for $80mn. This facility was then extended for the same amount in July 2006. During the first half of this year, Nomo’s loan portfolio grew by 37%, reaching 94.6bn roubles (US$3.74bn). The main consumers of the bank’s credit products in the first half of 2007 were leasing companies, followed by heavy industries, power companies and gold mining firms.