JSC Vneshtorgbank and Moscow Narodny Bank Limited acting as Mandated Lead Arrangers and Bookrunners have launched a Euro 15 mio syndication for International Bank of St. Petersburg.
The loan bears a margin of 3.25 per cent p.a. and has a tenor of 364 days with an extension option for further 364 days.
International Bank of St. Petersburg (IBSP) was founded in 1989 and is the 7th largest financial institution in St. Petersburg and 71st largest Russian bank by assets. IBSP core business is corporate banking in the North-Western region of Russia. The Bank also services municipal budget of St. Petersburg. IBSP has a branch in Moscow and representative offices in Helsinki, Tallinn and Astrakhan.
International Bank of St. Petersburg is rated B-/B by Fitch Ratings with "stable" outlook and CCC+/C with "stable" outlook by Standard&Poor's.