A one-year US$230mn syndicated trade-related loan for Russia’s OJSC Alfa Bank has been signed. Commerzbank (bookrunner), JP Morgan (bookrunner), RZB (bookrunner), Standard Bank (signing agent), Sumitomo Mitsui Banking Corporation Europe (facility agent), Demir-Halk Bank (Nederland), National Bank of Egypt (UK), National Bank of Greece, and Alpha Bank acted as mandated lead arrangers.

The facility was launched at US$100mn and following a 130% oversubscription closed at US$230mn. The borrower elected to take the oversubscription and 45 banks participated.

The margin is Libor plus 1.50% per year.

Alfa Bank is the largest privately-owned bank domiciled in Russia and is rated “Ba2 “by Moody’s and “B ” by Standard & Poor’s with a positive outlook.

Lead arrangers: Finansbank (Holland); International Commercial Bank of China; State Bank of India; Abu Dhabi Commercial Bank; Barclays Bank; HSBC; Wachovia Bank.

Arrangers are: Bank Pekao; Caixa Geral de Depositos; Export-Import Bank of the Republic of China; National City Bank; Sanpaolo IMI, London.

Co-arrangers: Bank Hapoalim; DZ Bank; Emirates Bank; Melli Bank plc; Piraeus Bank; United National Bank.
Lead managers: ICICI Bank UK; AKA; BBVA; Bank of New York; Bred Banque Populaire; Credit Suisse; FBN Bank (UK); Raiffeisenverband Salzburg; Dubai Bank; Emporiki Bank; Swedbank; Yapi Kredi Bank Nederland.

Managers: Banif – Banco Internacional do Funchal; Bank of Overseas Chinese; Banca Monte dei Paschi di Siena, Frankfurt; Banca Nazionale del Lavoro; Bre Bank; Rabobank Nederland.