JSC Vneshtorgbank and Moscow Narodny Bank Limited (Mandated Lead Arrangers and Bookrunners) and a consortium of lenders have signed into a Euro 16,500,000 Trade Related Syndicated Term Loan Facility for OJSC "International Bank of St. Petersburg" (IBSP).
The loan bears margin of 3.25 per cent p.a. above EURIBOR and has a tenor of 364 days with an extension option for further 364 days.
The deal was increased from the launch amount of EUR 15 mio. The following banks have joined the facility: AKA Ausfuhrkredit Gesellschaft mbH; Banco Finantia, S.A.(Lead Managers); Kazkommertsbank, Almaty; Commercial Bank Center-invest; Open Joint Stock Company Industry & Construction Bank; Closed Joint Stock Company International Moscow Bank; Vnesheconombank and ATFBank OJSC (Managers).
International Bank of St. Petersburg was founded in 1989 and is the 71th Russian bank by assets and the 7th largest credit financial institution in St. Petersburg.
IBSP core business is corporate banking in the North-Western region of Russia. The Bank also services municipal budget of St. Petersburg.
International Bank of St. Petersburg is rated B-/B, with "stable" support rating and individual rating D/E by Fitch and CCC+/C with "stable" outlook by Standard&Poor's.