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Rosbank has clinched a deal to take out a $150-million syndicated loan from international lenders to use it for general corporate goals
Rosbank, a leading Russian commercial bank, has clinched a deal to take out a $150-million syndicated loan from international lenders to use it for general corporate goals, the bank said in a statement Tuesday. According to the statement, the European Bank for Reconstruction and Development will provide $50 million for four years. A wide range of international banks will syndicate the remaining $100 million loan, which will mature in two years. The EBRD, Commerzbank Aktiengesellschaft (Germany) and ING Bank N.V. (the Netherlands) will jointly manage the loan facility. Rosbank initially planned to raise $100 million, but more banks said they were willing to extend the loan in a syndicated effort and the terms of the deal were changed. The EBRD agreed to provide $50 million instead of $35 million and extend the loan repayment period from three to four years. In addition to the loan managers, the syndicate of banks to disburse the second tranche included 28 banks from 19 countries, and its amount was raised from $65 million to $100 million. Rosbank will receive its third syndicated loan: the bank took out $40 million in 2003 and $50 million in 2004. Rosbank, owned by financial holding Interros, is one of the country's top thirty banks on a list published by the Central Bank of Russia. Its assets aggregated 256.4 billion rubles (about $9 billion) as of January 1, 2006 and its shareholders' equity was 20.4 billion rubles (about $713 million).
Print Rosbank has clinched a deal to take out a $150-million syndicated loan from international lenders to use it for general corporate goals Bookmark Rosbank has clinched a deal to take out a $150-million syndicated loan from international lenders to use it for general corporate goals

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