Bank of Moscow Redeems Syndicated Loan of USD 500 mln
OREANDA-NEWS. November 1, 2008. The Bank of Moscow has redeemed a syndicated loan of USD 500 mln. The given loan was raised on 3 November, 2006 for a 2 year term. The resources raised were allocated for developing the Bank’s corporate and retail business. The loan Facility Agent was Sumitomo Mitsui Banking Corporation Europe Limited.
“The Bank of Moscow has always been a guarantor of reliability for its clients and has always fulfilled its obligations towards its partners”, noted Alexei Sytnikov, Bank of Moscow VP. “In spite of the difficult situation on the financial markets, the Bank of Moscow remains a stable financial institution and possesses adequate liquidity for fulfilling all its obligations. The Bank also retains high international agency ratings. Only the four state banks of Russia currently have ratings as high as the Bank of Moscow.”