JSCB Ukrsotsbank has awarded a mandate to arrange an extension of a US$13mn syndicated trade finance facility to RZB and Raiffeisenbank Ukraine. The facility will be used for trade finance transactions of the borrower’s customers.

The maturity of the loan is six months and is repaid in one amount. The margin is 4% per year.

Ukrsotsbank is the successor to Zhylsotsbank of the former Soviet Union and was founded in 1990. The bank was, at January 1, 2003, among the four largest banks according to capital, net profits and assets.

On December 9, 2003 Moody’s assigned ratings of B2/NP for long-term and short-term foreign currency deposits and an E+ Financial Strength Rating (FSR). All ratings carry stable outlooks.