Deutsche Bank London has been mandated to arrange a one-year US$40mn syndicated term loan for TBC Bank, Georgia. This will be the first time that TBC Bank has raised finance in the conventional syndicated loan market.
TBC is the second largest bank in Georgia with total assets as of December 31, 2006 equivalent to US$574mn. The bank has long-term foreign currency ratings of B3 from Moody’s and B- (positive outlook) from Fitch. TBC Bank has around 25% of the country’s total bank assets.
Deutsche will shortly launch syndication.
The margin is 2.50% per year.