RZB, ZAO Raiffeisenbank Austria (RBA) and Standard Bank Plc as mandated lead arrangers and bookrunners and a consortium of lenders have signed into a 364-day US$40mn syndicated trade-related finance facility for Locko-Bank, Moscow.

The facility was launched into the market at the level of US$20mn and following a 100% oversubscription from 19 banks, it finally closed at US$40mn. The borrower elected to take the whole oversubscription. The facility will be used to finance selected trade contracts of the borrower’s strategic corporate customers.

There is an extension option of 364 days at each lender’s individual discretion. There is a bullet repayment at maturity. The margin is 265bp per year.

Some 19  banks (including the MLAs) have joined the facility:

Co-arrangers – Anglo-Romanian Bank and VTB Bank (Deutschland).

Lead managers – National City Bank and VTB Bank Europe, Singapore.

Managers – VTB Bank (France), FBN Bank (UK) and GarantiBank International.

Participants – Bre Bank, Eurasian Bank, London Forfaiting Company, Sampo Bank, and Trade & Development Bank of Mongolia.