Mandated lead arrangers and bookrunners Banco Finantia, BayernLB and Standard Bank have launched a US$30mn syndicated trade-related facility for Bank of Finance and Credit in Ukraine.
The financing pays a margin of 195 basis points per year over Libor and carries a tenor of 364-day tenor.
Additional lenders are being invited to join the deal at three different levels. To join as an arranger requires a commitment of US$5mn, with a participation fee of 215bp and an all-in yield of 410bp.
Co-arrangers can commit US$3mn or more, for a participation fee of 205bp and an all-in yield of 400bp.
Lead managers can join with a commitment of US$2mnor more, for a fee of 195bp and all-in yield of 390bp.
Finantia is the documentation agent on the deal, while Standard Bank is the facility agent.
As of April 30, Bank Finance and Credit was the 11th largest bank in the Ukraine, in terms of assets, according to data from the Association of Ukrainian Banks.
At the end of 2007, Moody’s Investor Service upgraded the long-term national scale rating of the bank from A2 to A1.
At the same time, Moody’s has placed on review for possible upgrade the Ukrainian bank’s B2 local currency deposit and foreign currency debt ratings and assigned positive outlook to foreign currency deposit rating of B2.