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.