Latvia’s Parex banka has mandated Commerzbank, HSBC Bank, Intesa Sanpaolo, Lloyds TSB Bank, Mizuho Corporate Bank and RZB as initial mandated lead arrangers to arrange a €360mn two-year global syndicated term loan facility.
The margin is 45bp per year.
Participation levels range from €20mn to €5mn.
The loan is for refinancing of the borrower’s €310mn term loan facility maturing on July 7, 2007 and for general corporate purposes.
Parex banka was established in May 1992 and has since broadened its operations to include retail banking, corporate and investment banking, private banking, asset management and leasing.
Parex banka operates 68 branches throughout Latvia and the Group is represented in 15 countries. It is one of the most dynamic banks in Latvia, serving the retail financial needs of nearly 400,000 of retail customers and over 30% of top 300 Latvian corporations.