Russia’s OJSC Far Eastern Bank (FEB) has signed a 364-day US$28mn syndicated term loan facility. Standard Bank Plc (facility agent) and Erste Bank as mandated lead arrangers and bookrunners were mandated by FEB to arrange an original US$20mn loan, which was oversubscribed.

The proceeds will be used to finance trade-related transactions of the borrower. The deal carries a margin of 2.15% per year.

FEB was established in November 1990 in Vladivostok as a universal commercial bank. Today FEB is one of the largest financial institutions in the Russian Far East with an established branch network in the Primorsky region and the island of Sakhalin.

De Indonesiche Overzeese Bank, Hamburg branch, is an arranger, with Bank r Arbeit und Wirtschaft und sterreichische Postsparkasse, FBN Bank (UK) and VakifBank International as lead managers.

Banque BIA and Caixa Geral de Depsitos are managers.