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Sunday, March 24, 2019

Rosbank arranges syndicated term loan facility for Credit Bank of Moscow

Rosbank announced on Thursday that it acted as mandated lead arranger for the syndicated term loan facility for Credit Bank of Moscow.

The loan facility was in the amount of $500 million. Rosbank worked in partnership with a number of international financial institutions to complete the facility agreement on March 24. The facility was oversubscribed and increased with a group of 17 banks from 11 countries including countries in Europe, Asia and the U.S.

"We have been working with Credit Bank of Moscow in the field of syndicated lending since 2011," Vitaly Klenov, the director of the syndicated loans and structured products department for Rosbank, said. "This year Rosbank participated in organization of three term loan facilities in the amount of $940 million."

Credit Bank of Moscow will use the facility for trade related purposes. The facility bears an interest rate of LIBOR/EURIBOR + 1.75 percent per annum for 364 days and an interest rate of LIBOR/EURIBOR + 1.95 percent per annum for 18 months.

"Syndicated market is a key one for us," Klenov said. "By the results of the last year, Societe Generale Group has taken the first position in league tables of Cbonds, IFR Thomson Reuters and Euroweek/Dealogic information agencies. We are going to keep the leading positions on the market this year."