Bank Saint-Petersburg (BSPB) has closed a syndicated trade-related term loan facility with RZB and ZAO Raiffeisenbank Austria, Standard Bank Plc and ZAO Standard Bank, VTB Bank and VTB Bank Europe as mandated lead arrangers and bookrunners. Standard Bank Plc acted as documentation and facility agent.


The facility closed 150% oversubscribed from the launch amount of US$40mn. The borrower decided to increase the facility to US$100mn, resulting in the largest syndicated loan for BSPB to date.


The facility is for 12 months with a 12-month extension option (at the lenders’ discretion) and carries a margin of Libor + 2.15% per year.


There are 22 lenders in the syndicate from 10 different countries including the MLAs, plus ICICI Bank €
asia, Anglo-Romanian Bank, Commerzbank, Credit Europe Bank, Garanti Bank International, HSBC Bank, JPMorgan Chase Bank, OTP Bank, FBN Bank (UK), Landesbank Berlin, Wachovia Bank, International Moscow Bank, Adria Bank, Bank of New York, Landesbank Baden-Wuerttemberg London, UBS, Banco Finantia, Trasta Komercbanka, Hipoteku Banka and Abanka Vipa.


BSPB is the largest private bank in the rapidly growing St Petersburg and northwest region of Russia. The bank’s main business areas are corporate banking, retail banking, credit, cash and settlement services. It was founded in 1990 when Lenbank was established on the basis of the Leningrad Regional Department of Zhilsotsbank USSR.


The borrower is rated B by Fitch and Ba3 by Moody’s . Both ratings carry a stable outlook.