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VTB arranges a syndicated loan for JSC Belagroprombank

20 June 2007

On 20 June 2007, a signing ceremony of a loan agreement took place in Moscow for a syndicated loan in Russian Roubles to be extended to JSC Belagroprombank, a Belarusian company. The loan worth RUR 1 billion is extended for a year with annual interest rate 9.7%. JSC VTB Bank acted as arranger and placement agent of the loan.

International Moscow Bank was appointed co-arranger of the issue. 

Not only leading Russian banks, but also European credit and finance institutions showed great interest to the deal. 10 banks from Russia and other countries participated in the syndication.

The deal has become a benchmark for the Russian market of syndicated loans, since it is the first time a syndicated loan in Russian Roubles has been arranged by Russian banks for a financial institution from CIS countries. High-profile professional expertise and reliable reputation, as well as perfect credit history of the borrower allowed the co-arrangers to form a syndication and raise large amount on unique terms. This credit helped Belagroprombank enter the emerging capital markets, diversify its funding sources and enhance credit facilities of its customers engaged in Russian-Belarusian trade. Successful implementation of the deal will lead traditionally strong Russian-Belarusian economic relations to a new quality level and will become an important step to a further integration of economic systems of the countries.  

For reference:
JSC Belagroprombank was established in 1991. It is ranked 1st in the Republic of Belarus in terms of assets and it is ranked 2nd in terms of total volume of assets, corporate loans and customers' deposits. The government owns 99% of the Bank's authorized capital. Belagroprombank is focused on agriculture and crediting within the framework of governmental programmes.

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