VTB Bank and VTB Bank Europe plc, as mandated lead arrangers and bookrunners, and a consortium of lenders have signed a US$11mn and €12mn dual currency syndicated trade finance facility for Belarusian Bank of Development and Reconstruction (Belinvestbank).


The loan pays a margin of 3.65% per year and has a maturity of six months with an extension option for another six months.


The deal was well received by the market and increased from the launch amount of US$10mn and €5mn.


The following banks have joined the facility: Finantia Securities; BayernLB; International Moscow Bank as arrangers; Nova Ljubljanska banka; íommerzbank; and Center-Invest as lead managers; AKA; and Credit Europe Bank as managers.


Belinvestbank was founded in 1992. The bank ranks among the top five Belarusian banks by assets and equity.


Belinvestbank is 86% state owned and rated B-/B by Fitch with ‘stable’ outlook.