NOMOS-BANK, one of Russia's largest private listed banks, recently received a syndicated loan of $240 million from a group of foreign and Russian banks.
The funds were received for a period of one year with an option to renew for a similar term. The interest rate on the loan is LIBOR + 1.75 percent per annum. The proceeds will be used to finance gold mining companies.
"The deal was closed with substantial over subscription," Dmitry Romaev, the president of NOMOS-BANK, said. "The total amount could be even more, but we decided to meet the demand in volume correlated with the size of the loan portfolio of gold mining companies. At the same time, a large number of participants in the transaction - 15 financial and credit institutions - indicated a high level of confidence in NOMOS-BANK from its partner banks."
The deal was organized by COMMERZBANK AG, Bank of America Merrill Lynch, Citi, JP Morgan Limited, Raiffeisen Bank International AG, Rosbank, UniCredit Group, Credit Europe Bank NV, Goldman Sachs Bank USA, Banca Intesa, Landesbank Baden-Wurttemberg,VTB Bank (Deutschland) AG, Oberbank AG and the Bank of Ireland.
This transaction continues NOMOS-BANK's successful lending to domestic gold producers with the help of foreign investors. The syndicated loan was the bank's 15th and is the largest since it first entered the syndicated loan market in 2001.
In the first nine months of 2013, NOMOS bought 390.4 tons of precious metals bullion, a 28.4 percent increase over the same period in 2012.
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