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Nomos financing closes oversubscribed

Europe / 26-11-02 / by

Standard Bank, as mandated arranger and facility agent, has closed general syndication of a US$30mn 360-day pre-export financing for Russia’s Nomos Bank.

The deal an amortising self-liquidising loan which is 20% weighted was subsequently increased to US$47mn.

Some 11 banks joined the deal and drawdown is imminent. Commerzbank and UFJ Bank joined as joint arrangers with US$5mn. Altalanos Ertekforgalmi Bank, Moscow Narodny and Parex Bank joined as arrangers with US$5mn. BCEN-Eurobank, Bred Banque Populaire and HVB Group joined as managers with US$3mn. Bankgesellschaft Berlin joined as a participant with US$2mn.

The margin is 390bp over Libor, plus fees.

Nomos is a conduit for Russian gold producers (artels) to sell their ware on to Standard Bank Dubai where the gold is sold on in the local market.

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