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.