Ural-Siberian Bank has mandated RZB and ZAO Raiffeisenbank Austria (RBA) as mandated lead arrangers to arrange a new US$40mn 364-day syndicated trade finance facility.
The loan is trade-related and the proceeds will be used to support the borrower’s major clients “export and import activities. A previous US$38mn facility from August 2003 has been fully repaid.
Before general syndication ABN Amro, American Express Bank, Dresdner Bank, JPMorgan and ZAO International Moscow Bank committed as joint arrangers. ING Bank is an arranger to the facility.
Uralsib was founded in 1993 by the government of the Republic of Bashkortostan (Russia) as a universal bank and is the leading bank in this region. The republic owns 22.5% of the borrower’s shares. In November 2003 the controlling stake in Uralsib (c.76%) was acquired by NIKoil Financial Corporation, a major Russian corporation engaged in various businesses including banking, insurance, brokerage, asset management, etc.
Apart from Uralsib, the financial corporation also owns controlling stakes in two other major Russian banks: IBG NIKoil Bank and Avtobank-NIKoil. Due to its excellent franchise, the Uralsib name was chosen as the umbrella brand for the financial corporation.
Arrangers are being offered takes of US$4mn or more at 0.95% flat, co-arrangers US$3mn at 0.80% flat, lead managers US$2mn at 0.65% flat, and managers US$1mn at 0.55% flat.
The margin is 3.25% per year. The repayment is bullet. And there is an extension option of 364 days at each lender’s individual discretion.