Deutsche Bank London and ING Wholesale Banking have signed a US$100mn trade- related syndicated term loan for Prominvestbank, Ukraine.
The facility is an increase and a one-year extension of the facility signed on June 7, 2006, and carries a margin of 185bp. The proceeds will be used to finance select import and export contracts of the bank.
Following a substantial oversubscription, the deal was increased from the launch amount of US$60mn, and represents the largest facility to date raised by Prominvestbank in the international loan market.
As of January 1, 2007 Prominvestbank was ranked among the top five banks in Ukraine in terms of total shareholder’s equity.