Standard Bank London and RZB as mandated lead arrangers have been mandated by Ukraine’s UkrSibbank to arrange a US$15mn syndicated trade-related finance facility.
The transaction was launched into general syndication on September 27. This followed a senior syndication phase in which Commerzbank and HVB Group joined as arrangers.
The tenor of the loan will be 364 days. The funds will be used to finance specific trade finance facilities for UkrSibbank’s clients. The loan carries an interest margin of 3.95% per year over Libor.
In general syndication, lenders will be offered participations as follows: lead managers with US$2mn or more at 90bp; managers with US$1mn at 80bp.
UkrSibbank is rated “B2” by Moody’s for their long-term foreign currency deposits, and “B-“ by Fitch Ratings.
On September 9, Moody’s upgraded the outlook of UkrSibbank to positive from stable.