Mandated lead arrangers and bookrunners BayernLB, BNP Paribas and HSBC have signed a US$110mn syndicated two-tranche term loan for commercial innovation bank UkrSibbank.
The US$80mn tranche carries a two-year tenor and pays Libor plus 1.20%, and the US$30mn one-year tranche pays 0.80% over Libor.
Launched at US100mn, the facility was relatively well-received by the market despite concerns about the demand of assets in the Ukraine and other CIS states.
During syndication, Commerzbank joined as lead arranger and Commercial Bank of Kuwait joined as an arranger.
AKA Ausfuhrkredit-Gesellschalft and Wachovia Bank joined as lead managers.
BayernLB acted as facility agent and BNP Paribas was documentation agent.
This facility follows on from the bank’s previous loan signed in May 2007 for US$250mn. This carried a two-year tenor and was arranged by BayernLB, BNP Paribas and HSBC and paid a margin of 1.10% over Libor.