Russia’s Uralsib has raised a one-year US$132mn syndicated term loan with the support of nine international banks.

Commerzbank, ING, Raiffeisen Bank and VTB Bank acted as the joint arrangers on the deal, while other participants include Raiffeisenlandesbank, BHF Bank, Citibank, RBS, Bank of Ireland and Adria Bank.

Upon attracting commitments from an additional six banks, the loan was upsized from US$100mn.

The loan carries a margin of 225 basis points over Libor and its proceeds will be used to finance and refinance the general trade finance purposes of Uralsib clients, the bank confirms to GTR.

“The syndication result and the oversubscription in the difficult market conditions demonstrate the strong support that Uralsib enjoys with both its core relationship banks and a wider international lending community,” Uralsib says in a statement.

This is the Russian bank’s second deal of 2011 after closing a US$110mn syndicated term-loan facility in October.