OREANDA-NEWS. January 3, 2012. On December 16, 2011, Alfa-Bank Russia successfully closed a USD 250 million syndicated loan with a 12 month maturity. The initial loan commitments of USD 160 million were increased by more than a half, despite instability on international and especially European markets.

The banks that participated in the transaction include Citibank, HSBC Bank PLC, Wells Fargo NA, WestLB London Branch, all of which acted as Mandated Lead Arrangers and Bookrunners. In addition, we are pleased to mention that some new counterparties, which did not take part in syndicated transactions in previous years, joined the deal.

The syndicated loan bears an interest rate of 175 basis points over LIBOR which is the lowest interest rate among Russian private banks for this kind of deal in 2011.

The primary purpose of this facility is for lending to our corporate customers.

The Deputy Chairman of the Executive Board and Chief Financial Officer of Alfa-Bank Russia Andrew Baxter said: "Although Alfa-Bank has successfully executed a number of Eurobond issues over the past two years, this is the first syndicated loan that we have issued since the 2008 crisis. This syndicated loan is a resounding success in terms of funding costs, and demonstrates the international capital markets’ perception of Alfa-Bank as the leading private bank in Russia."