JSC VTB Bank, VTB Bank Europe plc and BayernLB (Initial Mandated Lead Arrangers and Bookrunners) and a consortium of lenders have signed into a USD 35,000,000 syndicated trade finance facility for Belarussian-Russian Belgazprombank Joint-Stock. Gazprombank (Open Join Stock Company) acted as Mandated Lead Arranger.
The loan bears a margin of 2.875 % p.a. above LIBOR and has a tenor of 364 days with an extension option for further 364 days.
In spite of adverse market conditions the deal was increased from the launch amount of USD 25,000,000. The following banks have joined the Facility: Commerzbank Aktiengessellschaft; Credit Europe Bank; GarantiBank International N.V; UniCredit Group (Bank Austria Creditanstalt AG; Closed Joint Stock Company International Moscow Bank) (Lead Arrangers); Icebank; London Forfaiting Company Ltd (Arrangers); Atlantic Forfaitierungs AG; Demir-Halk Bank (Nederland) N.V. (Lead Managers).
Belgazprombank (BGPB) was established in 1990 and is one of the country's ten top banks in terms of assets and shareholders` equity (85.46% of BGPB's shares belongs to JSC "Gazprom" and JSB Gazprombank (OJSC)). In 2005, Fitch Ratings Agency assigned Belgazprombank long-term rating "B" with"Stable" Outlook.