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  Thursday, August 11, 2022
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TransCreditBank of Russia has obtained a $100 million syndicated loan from foreign banks
TransCreditBank of Russia has obtained a $100 million syndicated loan from foreign banks, a bank news release said Friday. "The loan was provided for two years with an extension option of one year," the news release said. "Interest is 70 basis points above LIBOR." The loan was extended by a syndicate of 11 foreign banks. Organizers and book runners are ABN Amro Bank and Barclays Capital, an investment division of Barclays Bank PLC. Bank Austria Creditanstalt AG is the organizer and financial agent. The syndicate includes India's ICICI Bank Limited, Cyprus's DEPFA Investment Bank Limited, Germany's Dresdner Bank AG, Austria's Raiffeisen Zentalbank, South African-based Standard Bank PLC, Hungary's MKB Bank Nyrt and The Bank of New York. The bank will use the funds to finance foreign trade projects of its clients, and to refinance its foreign debt. TransCreditBank, founded in 1992, is ranked among Russia's thirty largest banks by the Central Bank of Russia and is 74.99% owned by the Federal Property Agency. It is the principal bank of Russian Railways. The bank's assets were worth 57.773 billion rubles ($2.15 billion) as of April 1, and its equity capital totaled 3.829 billion rubles ($142.64 million).
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