OREANDA-NEWS. November 19, 2007. The Bank of Moscow has attracted a syndicated loan in the amount of USD 600,000 USD mln, the term of the loan is 30 months.

The arrangers of the loan were Bayerische Landesbank, Bayerische Hypo — and Vereinsbank AG, Commerzbank Aktiengesellschaft, LLD DEPFA BANK, Deutsche Zentral — Genossenschaftsbank, Mizuho Corporate Bank Ltd., Sumitomo Mitsui Banking Corporation Europe Limited, UniCredit Group. Among other participants in the loan were various of European, Asian and American banks. The cost of attraction of the credit was LIBOR + the interest rate of 0,55% per annum.

"The bid book has received one and half times more bids, — says Pavel Gorbatsevich, Vice-President of the Bank of Moscow. — This allowed us to keep the total amount of the loan at USD 600,000 mln. In practice, from the very beginning of the liquidity crisis this could be considered the first successful transaction with regard to attraction of a syndicated loan by a major bank the value of which corresponds to the pre-crisis interest rate level".

The borrowed assets shall be channelled towards financing of corporate customers as well as funding of other areas of activity of the Bank of Moscow.