RZB and Standard Bank Plc as bookrunners and mandated lead arrangers have signed 11 banks into a US$25mn syndicated trade-related finance facility on behalf of Ukraine’s JSC Bank Forum.
This is the borrower’s debut debt-raising transaction in the international loan markets.
The facility was launched at US$10mn and was very well received in the market, finally closing with a 2.5 times oversubscription at US$25mn. The borrower has elected to take the whole oversubscription.
The purpose of the loan is to finance specific trade finance facilities made available by the borrower to its clients.
RZB is lending US$3.5mn, while Standard is offering US$3mn.
Lead arrangers Bank Pekao, National City Bank and JSC Vneshtorgbank are lending US$3mn each.
Arrangers FBN Bank (UK) and Habibsons Bank are lending US$2mn each.
Managers Bank Austria Creditanstalt, Banque de Commerce et de Placements-BCP, London Forfaiting Company, Parex banka and The Export-Import Bank of the Republic of China are giving US$1mn each.
Participant American Express Bank GmbH is lending US$500,000.
The tenor is 180 days after signing with an extension option for another 180 days. The margin is Libor + 3.95% per year.
Participation amounts of US$1mn, US$2mn and US$3mn were offered at fee levels of 60bp, 70bp, and 80bp flat respectively.