Russia’s Promsvyazbank has closed a one-year US$307mn and €72mn trade-related term loan facility with 19 international banks − the largest deal for a privately-owned Russian bank so far this year.

The facility carries a margin of 190 basis points a year, and will be used to refinance PSB’s previous one-year US$350mn syndicated loan signed in October 2011.

Commerzbank, Emirates NBD and Wells Fargo acted as joint co-ordinators on the facility, while Commerzbank also acted as documentation agent and facility agent.

Commenting on the deal, Artem Konstandian, president of PSB says: “This loan facility will support the bank’s growth plans and underlines the solid credit standing that we enjoy with the international banking community. It supports our strategy to broaden our funding sources and maintain evenly spread maturities. This loan saw participation from Middle Eastern banks, further diversifying our geographical spread of funding sources.”

Mandated lead arrangers and bookrunners:

Bank of America Securities, Commerzbank, Deutsche Bank, Emirates NBD, HSBC, ING, JP Morgan, Raiffeisen Bank, Standard Chartered, UniCredit, VTB Bank, Wells Fargo

Mandated lead arrangers
Credit Suisse

The Governor and Company of the Bank of Ireland, Citi

Lead managers
Adria Bank, Landesbank Baden-Württemberg, Pohjola Bank, Raiffeisen Bank.