Deutsche Bank AG London and WestLB AG London as mandated lead arrangers and bookrunners have completed senior syndication of the €30mn syndicated term loan facility for Raiffeisenbank (Bulgaria) EAD. In view of the success of this initial phase, the facility is being launched into general syndication at an increased amount of €50mn. The two-year loan will benefit from a letter of comfort from Vienna-based RZB-Austria and pays a margin of 1.25% per year.
Joining them at senior level are Alpha Bank, BayernLB, Commerzbank, Erste Bank and WGZ-Bank Westdeutsche Genossenschafts-Zentralbank.
Raiffeisenbank (Bulgaria) EAD, a wholly-owned subsidiary of RZB-Austria, is the 7th largest bank in Bulgaria in terms of total assets. Raiffeisenbank (Bulgaria) EAD is a universal bank with a network of 39 outlets throughout Bulgaria. In 2003, the banks loan portfolio increased by 50%, while customer deposits grew by 27%. It is among the top three lenders to corporates in the country with a market share of 9%.