The US$40mn syndicated trade-related term loan for Hungary’s General Banking & Trust Co Ltd (Ált álanos Értékforgalmi Bank Rt) arranged by Deutsche Bank AG London, was signed on December 30, 2002. Funds will be on-lent to nominated customers of GBT to finance specific trade contracts. The loan has a margin of 0.75% pa and a tenor of two years.
Mandated arranger: Deutsche Bank AG London
Arrangers: CIB Bank Rt, HVB Bank
Lead managers: Bank Melli Iran, Hamburg, The Arab Investment Company SAA
Managers: Banca Nazionale del Lavoro SpA, Bankgesellschaft Berlin AG, Berlin, Depfa Investment Bank Limited
Participants: Bre Bank SA, Warsaw, Israel Discount Bank of New York
“The syndication went well, with 11 banks joining the transaction” says Ben Dobson of Deutsche Bank’s Global Trade Finance. “We were pleased with the number of participants and amount raised as this has been the second syndication that the borrower has raised in 2002”.