Vneshtorgbank and UniCredit Group (acting through Bank Austria Creditanstalt and International Moscow Bank) as mandated lead arrangers and bookrunners have launched syndication of the US$25mn trade-related syndicated term loan facility for Russia’s Sviaz-Bank.

The facility will be provided in US dollars for 12 months and will pay Libor + 3.25% per year.

Sviaz-Bank was founded in 1991 and is one of the top 30 largest Russian banks according to the Central Bank of Russia and top 100 largest CIS banks in terms of assets and shareholders” equity.

The bank’s strategy envisages development of the bank as a universal financial institution with the national status and strategic partnership with the telecommunications industry.

The bank has a network of 34 branches from Kaliningrad to Vladivostok and five outlets in Moscow.

The bank is 94% owned by JSC RTC-Leasing.