Mandated arranger Standard Bank has signed banks into a one-year US$20m loan for Russia’s OJSC Bank Petrocommerce Moscow.

Petrocommerce is majority owned by Lukoil. The margin stands at 375bp over Libor plus fees. Some eight banks joined as participants: Erste Bank and International Moscow Bank joined as co-arrangers for takes of US$4mn; Parex Bank joined as a lead manager at US$3mn; managers are Natexis Banques Populaires and Rabobank with takes of US$2mn; and Adria Bank with US$1mn.