JSC VTB Bank is pleased to announce an extension of RUR 900 mln syndicated loan facility for Commercial Bank "LOCKO-Bank" (CJSC). Along with VTB Bank, ZAO Raiffeisenbank is a co-arranger of the loan.
The loan is now extended for 12 months at the interest rate of 11.5 per cent p.a., and will be used for expansion of the Borrower's credit portfolio.
Together with the loan arrangers, the following banks have joined the syndication: Bank ZENIT; Bank Melli Iran; Russian Bank for Development; Bank of Khanty-Mansiysk (Lead Arrangers); West-Siberian Commercial Bank and Yapi Kredi Bank (Managers).
LOCKO-Bank was founded in 1994 and is now among top 100 banks of Russia in terms of capital. The Bank has branches in Moscow and in 26 regions of the Russian Federation and specializes on servicing small and medium-sized businesses.
The Bank is rated "B" by Fitch and "B2" by Moody's.