Russia's Rosbank announced on Thursday that it acted as the mandated lead arranger of a $90 million syndicated term loan facility for Absolut Bank.
Alfa-Bank, JSC VTB Bank, Sviaz-Bank and VTB Bank (Deutschland) AG acted as initial mandated lead arrangers and book runners, while Commerzbank AG joined into the deal as the facility agent. The agreement was signed on March 20.
The one-year facility, which bears an interest rate of LIBOR3M + 3 percent per annum, will be used for Absolut Bank's general corporate purposes. The amount of the syndicated loan can be increased with the accession of new lenders, according to the facility agreement's conditions.
Rosbank is part of the Societe Generale Group and provides all types of banking services to individual and corporate customers. The bank's subsidiaries are Rusfinance for consumer financing and DeltaCredit for mortgage lending.
Rosbank ranks as one of Russia's top 10 banks in terms of assets and equity.
- National Bank of Ukraine removes restrictions on foreign-currency transactions, investment metals
- Black Sea Trade & Development Bank visits Azerbaijan to boost business relationships
- VTB Bank finances three new planes for SunExpress airline
- National Bank of Ukraine makes it easier for businesses to invest abroad
- National Bank of Ukraine eases lending regulations for deposit guarantee funds to other banks
- Black Sea Trade and Development Bank, Russian Federal Corp. for SMEs support business growth
- Oleg Demidov named commercial director for Rosbank Factoring
- Eurasian Development Bank sells bonds on Kazakhstan Stock Exchange
- EY World Entrepreneur of the Year event to name world's top entrepreneur
- ACBA-CREDIT AGRICOLE, Microsoft parter for Armenian digital business technology seminar