Bank of Tokyo-Mitsubishi UFJ and Natixis, as initial mandated lead arrangers and bookrunners, have closed a US$135mn trade finance facility for Russia’s Bank Zenit.

Due to significant oversubscription, the transaction was increased from its launch amount of US$75mn and participant banks were scaled back.

The facility is priced at Libor + 120bp, with a bullet repayment at 18 months following the facility signing.

The other participants in the syndicate were: Société Générale Corporate & Investment Banking/Banque Societe Generale Vostok; Credit Europe Bank; RZB/ZAO Raiffeisenbank Austria; and VTB Bank (Europe) all as mandated lead arrangers; BHF-Bank as arranger; JPMorgan; OTP Bank; VTB Bank (Deutschland); ZAO Banca Intesa all as lead managers; BankMuscat International; BBVA; Banque BIA; Bre Bank; GarantiBank International; National Bank of Greece London; and UBS as managers.