VTB, International Moscow Bank (bookrunners) and ZAO Raiffeisenbank Austria (all as mandated lead arrangers) andS a consortium of lenders have signed into a Rb600mn syndicated term loan facility for Russia’s Tatfondbank.

Due to oversubscription the deal was increased from the launch amount of Rb500mn.

The loan bears a fixed interest rate of 9.2% per year and has a maturity of six months with an extension option for a further six months.

The following banks have joined the facility: MDM-Bank and Bank of Khanty-Mansiysk as lead managers; Vnesheconombank and Surgutneftegasbank as co-lead managers.

Tatfondbank was established in 1994.

In 2006 Moody’s Investors Service upgraded the bank’s rating to B3 with positive outlook and confirmed E+ financial strength rating and Not-Prime short-term rating. Tatfondbank is also rated Baa2.ru (national rating) by Moody’s Interfax Rating Agency.