OREANDA-NEWS. On July 05, 2007 URALSIB Bank signed a two-year USD404,000,000 Syndicated Term Loan Facility, reported the press-centre of URALSIB Bank.

The new Facility was jointly arranged by The Bank of Tokyo-Mitsubishi UFJ, Commerzbank, Raiffeisen Zentralbank, Societe Generale, and Sumitomo Mitsui Banking Corporation Europe.

The Loan pays the margin of 75 basis points over Libor. The Loan was launched at USD300 million, and the amount was increased by 35% due to over-subscription. 23 Lenders from various countries joined the Syndicate. The proceeds from the Loan will be used to finance trade contracts of URALSIB's corporate clients.

"This transaction is an important new landmark for URALSIB: it is the largest syndicated Loan ever raised by the Bank with the longest maturity. The new deal reflects both growing profile of the Russian banking sector and strong creditworthiness of URALSIB. We believe it will further strengthen our market position and further enlarge our lenders' base", says Alexander Dementiev, Deputy Chairman of the Management Board of URALSIB Bank.

URALSIB Bank is one of the largest privately owned Russian banks, ranked sixth by the size of the assets. It is a part of URALSIB Financial Corporation, a highly diversified Group providing wide scope of financial services to corporate and institutional, and retail clients in Russia.