Deutsche Bank London and ING Bank as mandated lead arrangers and bookrunners have completed senior syndication of a US$20mn syndicated trade-related term loan facility for Ukraine’s Ukrsotsbank. In view of the success of this initial phase of syndication, the launch size has been increased to US$30mn.
Joining as arrangers are AKA Ausfuhrkredit-Gesellschaft and HVB Group (Bayerische Hypo- und Vereinsbank and Bank Austria Creditanstalt). Co-arrangers are ABN Amro Bank, American Express GmbH , Commerzbank and MashreqBank. Deutsche and ING have launched general syndication of the facility.
The proceeds of the one-year loan will be used to finance specific trade transactions of select clients of the borrower.
The margin is 3.80% per year.
Fees are as follows: for lead managers at US$3mn or more, 90bp; for managers at US$2mn or more, 80bp; for participants at US$1mn or more, 70bp.