OREANDA-NEWS. December 17, 2007. MDM Bank announced that on Friday, 14 December, the Bank signed a one-year, USD 250 million equivalent dual-currency USD/EUR syndicated term loan facility.

The Facility was launched at the initial amount of USD 200 million equivalent, but was subsequently increased due to oversubscription and then scaled down to the final amount of USD 250 million equivalent. A total of 22 banks from 18 countries joined the facility. The interest rate for this Facility is 0.60% per annum over LIBOR/EURIBOR.

The initial mandated lead arrangers for this Facility are Agricultural Bank of China, Hong Kong Branch, Commerzbank Aktiengesellschaft, Erste Bank der oesterreichischen Sparkassen AG, ICICI Bank Hong Kong Branch, KBC Bank NV, Natixis, Sumitomo Mitsui Banking Corporation Europe Limited, and UniCredit Group (represented by Bayerische Hypo-und Vereinsbank AG).

Commerzbank, ICICI Bank, Natixis and SMBCE are joint bookrunners, Bayerische Landesbank is the facility agent and Natixis documentation agent. MDM Bank will use the proceeds of this syndicated loan for trade-related financing and other trade-related projects of the Bank’s customers. Commenting on the new loan facility, MDM Bank CEO Michel Perhirin said: "I am very pleased that despite global liquidity difficulties, MDM Bank not only attracted financing at an attractive rate, but was able to increase the size of the facility due to high demand. I am also pleased to note the trust and confidence in MDM Bank shown by the banks participating in this syndication."