Raiffeisenbank Becomes Lead Arrangers for Bank IBA-MOSCOW
OREANDA-NEWS. December 03, 2013. Raiffeisenbank together with Raiffeisen Bank International AG as the initial mandated lead arrangers and bookrunners were mandated to arrange a dual-tranche trade-related syndicated term loan facility for the Bank IBA-MOSCOW, the Russian subsidiary of International Bank of Azerbaijan (Azerbaijan, Baku).
The loan was syndicated to the market and found placement among a broad international investor base, including: Banka Kombлtare Tregtare Sh.a., Bayerische Landesbank, PPF Banka a.s. and Joint Stock Commercial Bank "ROSBANK" (Open joint-stock company) joined the deal as Mandated Lead Arrangers, Baltikums Bank AS, Eurocity Bank AG and UBI Banca International s.a. as Arrangers and Anadolubank Netherland N.V. as Lead Manager. Raiffeisen Bank International AG acted as Documentation and Facility Agent.
The two tranches of the loan comprise USD8,330,000 and EUR21,500,000 one-year facility with a 12-month extension option, guaranteed by International Bank of Azerbaijan Open Joint Stock Company and granted for trade finance purposes: on-lending to the customers of the Bank "IBA-MOSCOW" LLC to finance their import contracts.
"This has been one of the few deals with a wide syndication for a Russian bank on the international market lately. Its successful closing and composition of the lenders evidence foreign investors’ growing interest and confidence in the borrower", says Nikita Patrakhin, Member of the Board, Raiffeisenbank.