OREANDA-NEWS. On July 09, 2008 JSCIB "UkrSibbank", BNP Paribas Group, received a new club loan totaling USD 75 bln. with a one-year maturity. The club loan has an interest rate of 12m LIBOR + 1,00% per annum and is fixed at the level of 4,29375%, reported the press-centre of UkrSibbank.

Lead manager of the loan is “Emirates Bank International PJSC”, paying agent is “Sumitomo Mitsui Banking Corporation Europe Limited”. The raised funds will be allocated to finance general corporate objectives of “UkrSibbank”.

“Despite adverse impact of the liquidity crisis on the international financial markets, “UkrSibbank” keeps actively attracting funds from the market, and this transaction is the evidence of it. We raise external funds on a mutually beneficial basis to finance the development of the bank and the activity of its customers”, emphasized Oleksandr Adarich, Chairman of the Management Board of “UkrSibbank”.

Banks from Far and Middle East participated in the acquired club loan:

Emirates Bank International PJSC;
First Gulf Bank;
Mashreqbank PSC;
Sumitomo Mitsui Banking Corporation Europe Limited;
Union National Bank;
National Bank of Oman.

“This constitutes the 2nd successful club loan acquired by the bank. For instance, in 2007 “UkrSibbank” attracted a \\$50 million loan from two UAE banks, Emirates Bank and Mashreqbank, fully repaid in spring, 2008”, commented Oleksandr Sulyaeev, Deputy Chairman of the Management Board of “UkrSibbank”.

“Extending our range of funding instruments, we also take advantage of geographical location of investors, аs Arabic region appeared to be less affected by the global liquidity crisis, than Western Europe countries”, noted Vаdym Myrоnyuk, Head of International Business Division of JSCIB “UkrSibbank”.