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First Ukrainian International Bank (FUIB) has signed a US$40mn syndicated trade-related loan facility. The mandated lead arranger and facility agent is Standard Bank Plc.

This is the second occasion that FUIB has sought to raise finance from the international syndicated loan market, having raised a US$20mn one-year syndicated loan in April 2004. 

The loan proceeds will be used to finance specific trade finance facilities made available by the borrower to its clients.

There will be a bullet repayment on final maturity, which is 364 days from the date of signing of the facility agreement, subject to a one-year extension option, at the lending banks option.

The margin is Libor + 3.50% per year.

The Bank is rated B- (foreign currency long term rating) by Fitch, with a stable outlook.

FUIB was formed on November 20, 1991 and commenced banking operations in April 1992. The bank, organised as a closed joint-stock company, is registered in Donetsk although the head office functions are performed in both Donetsk and Kiev. 

ING Wholesale Banking is arranger, with CJSC International Moscow Bank, London Forfaiting Company and Nova Ljubljanska banka as lead managers.

Managers are: ABN Amro, Anglo-Romanian Bank, Bank of New York, Habibsons Bank, Mashreqbank, Persia International Bank, Parex banka and Wachovia Bank.