URSA-Bank gets $225-million syndicated loan

22 August 2007 (09:26)

URSA-Bank was able to get a two-tranche syndicated loan that totals to $225 million. The Bank of Tokyo — Mitsubishi UFJ, Standard bank, Unicredit Group, and WestLB acted as the book runners and the leading coordinators of the transaction. The interest rate, as far as the first tranche is concerned, amounts to LIBOR plus 85, that on the second portion of the loans comes to LIBOR plus 125. The money thus obtained is meant for financing commercial contracts.

‘Given the unstable state of the global financial markets, this transaction is a proof of foreign investors’ trust and their confidence in the Russian banking business’s developmental potential in general and in URSA-Bank in particular,’ the bank’s Deputy GD Vladislav Khokhlov says.

The bank’s Managing Director says the customers are now going to be offered advantageous terms of making business transactions at more favorable interest rates.

The syndicate comprises about forty banks, which is a sign of the transaction being a success on the international market. This is SKB-Bank’s greatest-ever syndicated loan,’ says the Bank of Tokio — Mitsubishi UFJ's Syndication Director Charles Griffiths.

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