Commerzbank, RZB, and ZAO Raiffeisenbank Austria as mandated lead arrangers and bookrunners and a consortium of lenders have signed into a 364-day US$52mn trade-related syndicated loan facility for Transcapitalbank.

Due to the deal being oversubscribed Transcapitalbank has increased the facility amount from US$25mn.

Proceeds will be used by the borrower to finance trade-related projects of its customers.

Some 20 banks (including the mandated arrangers) have joined the facility. Commerzbank is facility and documentation agent.

Indover bank, National City Bank and VTB Bank (Deutschland) are arrangers. Anglo-Romanian Bank and Finansbank (Holland) are co-arrangers. AKA Ausfuhrkredit-Gesellschaft mbH, Banque BIA, International Moscow Bank, and GarantiBank International are lead managers.

Managers are: Adria Bank, American Express Bank GmbH, Banif – Banco Internacional do Funchal, Eurasian Bank, Landesbank Baden-Wurttemberg London, Landesbank Berlin, LHB Internationale Handelsbank and Trade & Development Bank of Mongolia.

The facility may, at the absolute discretion of the lenders, be extended for a further period of 364 days from the initial maturity date

There will be a bullet repayment, while the margin is 275 basis points per year.

Transcapitalbank was founded in 1992 and since then has developed to become a stable institution with diversified client base and sound reputation.

Apart from the head office located in Moscow, Transcapitalbank has currently 10 branches and 13 additional offices in different regions of Russia that gives the bank considerable regional.

In March 2006, Moody’s Rating Agency assigned B1 long-term and Not-Prime (NP) short-term foreign currency deposit ratings and an E+ financial strength rating (FSR) to Transcapitalbank that is in line with the ratings of well-positioned medium-size Moscow based banks.

The current ownership structure includes several companies and individuals with Transcapitalbank management controlling about 30% of the shares. In July 2006 the board of directors of the European Bank for Reconstruction and Development (EBRD) approved equity participation project with Transcapitalbank for 25%+1 share.