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VTB Bank, VTB Bank Europe plc and BayernLB arrange USD 41 mln syndicated loan for OJSC Belinvestbank

19 November 2007

OJSC Belinvestbank, Minsk, raised a USD 41 mln syndicated loan, with VTB Bank, VTB Bank Europe plc and  BayernLB acting as arrangers and placement agents.

The loan is granted at LIBOR + 3.30% p.a. to mature in 364 days with another 364 day extension option.

The deal was cheered by investors which caused the actual loan amount to exceed the initial syndication amount (USD 35 mln). Alongside the Arrangers, the following banks entered the syndication: Commerzbank Aktiengesellschaft; Credit Europe Bank N.V.; Raiffeisen Zentralbank Osterreich Aktiengesellschaft (Co-arrangers); FBN Bank (UK) Ltd; Vietnam Russia Joint Venture Bank; CJSC "International Moscow Bank" (Lead-managers); AKA Ausfuhrkredit-Gesellschaft; Icebank; London Forfaiting Company Ltd; OJSC Khanty-Mansiysk Bank (Co-managers); and Atlantic Forfaitierungs AG; Credit Suisse, Zurich (Managers).

For reference:

OJSC Belinvestbank was established in 1992 and is now among the six top banks of Belarus in terms of assets and capital. As of 1 July 2007, Belinvestbank's capital amounted to USD 124 mln, with its assets exceeding USD 1.1 bln. The State has an 86% interest in the Bank's authorized capital.

OJSC Belinvestbank has "B" long-term rating from Fitch Ratings, with a stable outlook.

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