Sviaz-Bank Arranges Syndicated Loan of USD90 mn for Absolute Bank
OREANDA-NEWS. April 04, 2014. Absolute Commercial Bank, OJSC, has raised funds in the form of a syndicated loan of \\$90 million.
Sviaz-Bank OJSC (Vnesheconombank Group), Alfa-Bank OJSC, VTB Bank OJSC, and VTB Bank (Deutschland) AG acted as original organizers and bookrunners. Rosbank and Commerzbank AG were the loan organizers. Commerzbank AG was the loan agent bank. The loan was issued at an interest rate of LIBOR 3m+ 3.0% per annum for a one-year period.
The loan has been issued to finance the borrower’s current operations. Under the loan agreement terms, the amount of the syndicated loan can be increased by having new lenders join the agreement.