VTB Bank, Raiffeisenbank Austria, COMMERZBANK Aktiengesellschaft, and Raiffeisen Zentralbank Osterreich AG acted as arrangers of a USD 26 mln syndicated loan for Commercial Bank EXPOBANK.
The syndicated loan is extended for 12 months, and under the loan agreement can be prolonged for a similar period. Annual interest rate is LIBOR + 2.75%. Actual demand exceeded the initially planned loan amount (USD 20 mln) and reached USD 26 mln.
Alongside the arrangers, among the syndication members were: Black Sea Trade and Development Bank, VTB Bank (Deutschland) AG (Co-managers); Credit Europe Bank Ltd., Icebank, MMB (Lead-managers); and Yapi Credi Bank Moscow (Manager).
Commercial bank EXPOBANK was established in 1994. Its priority lines of business include: a comprehensive spectrum of services for both corporate and individual customers, plastic cards, precious metal trading, private deposits, securities trading, transactions in Russian and international capital markets.Last August, Moody`s awarded CB EXPOBANK with a "В3" long-term rating for foreign currency deposits, "Not-Prime" short-term rating, and "Е+" financial strength rating. Stable Outlook.