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Evrofinance Mosnarbank, Russia, has signed its one-year US$60mn syndicated term loan facility. Commerzbank and Standard Bank London acted as mandated lead arrangers. SBL was also bookrunner and information memo agent.

The facility was launched at US$40mn and following a 50% oversubscription closed at US$60mn.

The borrower elected to take the oversubscription and 20 banks participated in the transaction.

The loan is for financing trade-related transactions of the borrower’s major customers.

There is a bullet repayment. Maturity is one year from the date of signing of the facility agreement.

The margin is Libor + 2.50% per year.

Lead arrangers are: Erste Bank, HSBC Bank, Anglo Romanian Bank and West LB.

Arrangers are: Ost-West Handelsbank, Demir-Halk Bank (Nederland), HVB GroupBanco Finantia and Finansbank (Holland).
Finansbank Holland is also a co-arranger.

Lead managers are: Melli Bank, Caixa Geral de Depositos, Parex Bank, Landesbank Baden Wuertemberg, Garanti Bank International and International Moscow Bank.

Managers are: Bre Bank Warsaw, Banif Bank and BW Bank.

Evrofinance is majority owned by the Russian state via Vnesheconombank, Vneshtorgbank, Moscow Narodny Bank and BCEN Eurobank.