OREANDA-NEWS. October 22, 2009. Alfa-Bank has fully and in a timely manner redeemed 2 tranches of syndicated loan in the amount of US 23,500,000 and EUR 26,935,000, reported the press-centre of Alfa-Bank.

Despite the liquidity crisis in the global financial markets Alfa-Bank raised funds at the low interest rate of LIBOR + 200 bps per annum for the US Dollar tranche and EURIBOR + 200 bps for the Euro tranche. This loan was granted by the foreign banks’ syndicate in October 2008 for a term of 364 days.

The proceeds of the loan were used by the Bank to finance its customers’ cross-border trade transactions. Banco Internacional do Funchal, S.A. Bayerische Landesbank, GarantiBank International N.V. and HSBC Bank plc were initial mandated lead arrangers and bookrunners of the transaction.

The Bank has always been a reliable and stable partner for all of its clients and foreign investors. In May 2009, Alfa-Bank repaid in full US100 mln Eurobond, in August the Bank successfully completed the transaction of Eurobonds exchange having got a significant support and interest on the part of its investors. Within a year period the Bank doesn’t have any major external payment obligations to foreign investors.