Dresdner Kleinwort Wasserstein, as mandated arranger, has signed banks into a US$18mn one-year term loan for Russia’s MDM Financial Group. MDM Financial Group is one of Russia’s three largest privately owned banking groups with total assets at June 30, 2002 of US$2.33bn and total equity of US$330mn.

Joining the facility are Bankgesellschaft Berlin, Bayerische Hypo-und Vereinsbank, Donau-Bank and Landesbank Hessen-Thíringen. Funds are for financing Russian precious metals producers.

Hot on the trail of this news is that Deutsche Bank and Standard Bank London have been jointly mandated to arrange a US$50mn syndicated trade related loan facility for Joint Stock Commercial Bank Moscow Business World (MDM Bank). The loan, which is fully underwritten, will be guaranteed by MDM Financial Group’s parent company, MDM Holding GmbH. Funds will be on-lent to select customers of the borrower to finance specific trade transactions.

Joint book runners Deutsche and Standard will approach MDM Bank’s key relationship banks to put together an arranging group ahead of general syndication. Standard is acting as facility agent for this transaction.

The loan carries a margin of 2.95% per annum and has a 12-month tenor.