JSC VTB Bank, VTB Bank (Deutschland) AG, Credit Suisse AG, OTP Bank Plc, OJSC Alfa-Bank, OJSC Promsvyazbank became the arrangers of a 12 month trade-related syndicated loan for JSC JSSB Belarusbank (Minsk). Bayerische Landesbank acted as placement agent.
It is the largest syndicated loan provided to the Belorussian bank. The deal was welcomed by the investors: the sum of applications exceeded the initially planned loan amount and amounted to USD 145 mln.
Along with initial arrangers the following banks joined the syndicate: London Forfaiting Company Limited, PPF banka a.s., Novikombank JSCB CJSC (Arrangers); Banque de Commerce et de Placements, Credit Europe Bank N.V. (Leading managers); AKA Ausfuhrkredit-Gesellschaft m.b.H., Commerzbank Aktiengesellschaft, UBI Banca International S.A. (Со-managers).
This deal appeared to be the next step in cooperation of VTB and the banking sector of the Republic of Belarus as a strategic partner of Russia. Starting from 2009 and till present VTB Bank has arranged syndicated loans and provided trade-related funds to the amount of USD 470 mln to Belorussian banks.
JSC JSSB Belarusbank is the largest bank of the Republic of Belarus by assets (USD 15.4 bln as of 1.11.2010) providing a full range of banking services to individual and corporate customers. The Fitch Ratings Agency has assigned the Bank a long-term ‘B’ rating with a Stable Outlook and Moody’s Investors Service rated it ‘B2’ with a Stable Outlook.