OREANDA-NEWS. October 08, 2010. TransCreditBank signed the Syndicated Term Loan Facility. The loan, which was launched into general syndication at USD 250 million, received a positive response from the market, as a result of which it was increased to close at USD 325 million. The loan carries an interest rate of LIBOR+2.75 per cent per annum and matures in two years. 

The loan was secured by 18 banks. Barclays Capital, BNP Paribas, Citibank, Commerzbank Aktiengesellschaft, Credit Suisse, ING Bank, JPMorgan Chase Bank, RZB Group (represented by Raiffeisen Zentralbank Цsterreich Aktiengesellschaft and ZAO Raiffeisenbank), UniCredit Group, and WestLB acted as mandated lead arrangers and bookrunners on the deal. Banca Intesa Banca Intesa was mandated lead arranger; FBN Bank (UK), Credit Europe Bank, Raiffeisenlandesbank Oberцsterreich Aktiengesellschaft and Raiffeisenlandesbank Niederцsterreich-Wien AG were senior lead arrangers; and Chang Hwa Commercial Bank and Natixis were lead arrangers.

 “Apparent interest to the transaction on the market, which resulted in a sizable oversubscription and attractive financial terms, is a testament to TransCreditBank’s solid financial performance as well as the strength of its international banking relationships,” said Oleg Panarin, Vice President of TransCreditBank.

Loan proceeds will be used to finance foreign trade contracts of TransCreditBank’s customers.