Ursa Bank has signed a dual tranche syndicated loan facility for US$225mn, following a successful syndication period.
The facility was launched at US$100mn, and due to the popularity of the deal the borrower opted to increase the facility.
Bookrunners and mandated lead arrangers on the deal are Bank of Tokyo-Mitsubishi UFJ, Standard Bank, Unicredit Group, and WestLB. Standard Bank was facility agent.
Split into two tranches, it features a US$104.5mn portion and a US$120.75mn tranche B. The two portions carry tenors of 364 days and two years respectively, with the shorter tranche paying a margin of 85 basis points per year, and the other paying 120bp.
Ursa Bank was formed at the end of 2006 following the merger of the two Russian banks Sibacadembank and Uralvneshtorgbank.