Ukraine’s JSCB TAS-Kommerzbank has signed a 364-day US$36mn syndicated term loan facility. HSBC and Standard Bank Plc as initial mandated lead arrangers and bookrunners were mandated by TAS-Kommerzbank to arrange initially a US$25mn 364-day syndicated term loan facility. Standard acted as facility agent.


The facility was launched at US$25mn and was well received in the market with commitments totalling US$36mn. The borrower has elected to take the full amount.


Proceeds will be used to finance trade-related transactions of the borrower. The deal carries a margin of 2.90% per annum.


Interest Rate:


The facility agreement will be governed by and construed in accordance with English law.


This was the third syndicated loan for TAS-Kommerzbank during 2006 (US$14mn in March and US$21mn in July) and further evidences the quality of the borrower and strong growth in appetite for Ukrainian risk.


TAS-Kommerzbank is a universal commercial bank headquartered in Kiev and is regulated by the National Bank of Ukraine.


The Bank is rated B2 (long term) by Moody’s with a stable outlook and B- (long term) by Fitch. Both ratings carry a stable outlook.


Joining as mandated arrangers are: Anglo-Romanian Bank and JSC Vneshtorgbank; Alpha Bank is an arranger.


Co-arrangers are: Banif – Banco Internacional do Funchal; Unicredit; and Zurcher Kantonalbank.


Lead managers are: Atlantic Forfaitierungs; Banque BIA; Export-Import Bank of the Republic of China; Finansbank (Holland); Icebank; International Moscow Bank; and JSC Trasta Komercbanka.