Bank ZENIT Raised Two Syndicated Term Loan Facility
OREANDA-NEWS. October 29, 2008. Bank ZENIT raised the EUR 95,750,000 and USD 5,000,000 syndicated 364 day term loan facility, reported the press-centre of Bank ZENIT.
The facility was arranged by Bayerische Landesbank, Commerzbank Aktiengesellschaft, Erste Group Bank AG, Intesa Sanpaolo Ireland P.L.C., Raiffeisen Zentralbank Oesterreich AG, and WestLB AG, London Branch (who also acted as the facility agent).
The facility closed fully subscribed. 6 European banks joined the syndication. The facility carries a margin of 160 bps over EURIBOR/LIBOR. It will be used to finance Bank ZENIT clients' trade operations.
Commenting on the closed deal, Bank ZENIT Chairman of the Management Board Mr. Kirill Shpigun expressly underlined that "the successful closing of the public transaction once again vividly demonstrated the high degree of trust of Western partner banks, even in the situation of instability in the international financial markets".