Vneshtorgbank, Moscow Narodny Bank Limited and JSB Gazprombank (CJSC) acting as Mandated Lead Arrangers and Bookrunners have launched a USD 10 mio / EURO 5 mio syndicated term facility for Belgazprombank , Minsk.
The loan bears margin of 3.75 per cent p.a. above LIBOR and has a tenor of 364 days with an extension option for further 364 days.
This is the second syndication of the Bank in the international financial markets. In 2005 Belgazprombank raised the USD 15 million syndicated term loan facility from European banks.
Belgazprombank (BGPB) was established in 1990 and is among the country's ten top banks in terms of assets and shareholders` equity (67.82% of BGPB's shares belongs to JSC "Gazrpom" and JSB Gazprombank (CJSC)).
Belgazprombank is a universal commercial bank. In its status of an authorised bank of JSC Gazprom, the Bank benefits from effecting transactions for natural gas supplied by JSC Gazprom to the Belarusian market.
Since 1994 BGPB co-operates with international financial institutions. Belgazprombank was accredited by EBRD to participate in its programme aimed to support small and medium-size enterprises in the Republic of Belarus. Active co-operation with EBRD and IFC allows the Bank to provide its customers with comprehensive lending products within the credit lines from these international institutions.
In 2005, Fitch Ratings Agency assigned Belgazprombank long-term rating "B-" with"Stable"Outlook.