The VOZROZHDENIE bank has closed a deal to raise a second syndicated loan from a group of foreign banks, worth $53 million. The two-year credit is issued at LIBOR+1.2%. This is significantly below the one-year syndicated credit rate, received by VOZROZHDENIE this March at LIBOR+1.8%. The credit is designed to expand the bank’s activity and, specifically, to finance foreign trade contracts of the bank’s clients. The organizers are the UNICREDIT GROUP, represented by BANK AUSTRIA CREDITANSTALT AG and INTERNATIONAL MOSCOW BANK, BANK ICICI and LANDESBANK BERLIN AG. The syndication involved a total of eleven lending organizations, including COMMERZBANK AKTIENGESELLSCHAFT, AKA AUSFUHRKREDIT-GESELLSCHAFT M.B.H, LATVIJAS HIPOTEKU UN ZEMES BANKA, NATIONAL BANK OF EGYPT (UK) LIMITED, CITIBANK, SWEDBANK, and VTB BANK (Deutschland) AG.
Source: WWW.NOVECON.RU, October 31, 2007
