Vneshtorgbank, Moscow Narodny Bank and Gazprombank as mandated lead arrangers and bookrunners and a consortium of lenders have signed into a dual-currency US$14mn and €5mn trade-related syndicated term loan facility for Belorussian-Russian Belgazprombank (BGPB).

The loan bears a margin of 3.75% per year over Libor and has a tenor of 364 days with an extension option for further 364 days.

The deal was well received in the market and increased from the launch amount of €5mn/US$10mn. Joining as co-arrangers are Finantia Securities and GarantiBank International.

Trade and Development Bank of Mongolia is a lead manager.

Managers are: Demir-Halk Bank (Nederland), FBN Bank (UK), Finansbank (Holland), Nova Ljubljanska banka, and Nurbank.

Belgazprombank (BGPB) was established in 1990 and is among Russia’s top 10 banks in terms of assets and shareholders’ equity (67.82% of BGPB’s shares belongs to JSC Gazrpom and JSB Gazprombank).

In 2005, Fitch assigned Belgazprombank a long-term rating of B- with stable outlook.