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JSC VTB Bank US$ 3,130,000,000 Syndicated Term Loan Facility

 
8 July 2011

JSC VTB Bank (“VTB”) is pleased to announce the successful close of syndication of its US$ 3,130,000,000 syndicated term loan facility (the “Facility”). The Mandated Lead Arrangers and Bookrunners of the loan are Bank of America Merrill Lynch; The Bank of Tokyo-Mitsubishi UFJ, Ltd.; Barclays Capital; BNP Paribas; China Development Bank Corporation Hong Kong Branch; Citibank, N.A.; Commerzbank Aktiengesellschaft; Credit Agricole Corporate and Investment Bank; Credit Suisse AG; Deutsche Bank AG; Goldman Sachs; ING Commercial Banking; J.P. Morgan Limited; Mizuho Corporate Bank, Ltd.; Morgan Stanley; The Royal Bank of Scotland N.V.; Societe Generale; SMBC; Wells Fargo Bank, N.A. (the Mandated Lead Arrangers” and “Bookrunners”). ING Commercial Banking and SMBC were Joint Co-ordinators of the Facility, SMBC co-ordinated the documentation process and is the Facility Agent.

The Bank of New York Mellon, Nomura International plc, Raiffeisenlandesbank Oberösterreich Aktiengesellschaft, Banco Bilbao Vizcaya Argentaria S.A., Pohjola Bank plc, Swedbank, KBC Bank NV Dublin Branch, ZAO Industrial and Commercial Bank of China (Moscow) joined the MLAs in general syndication.

The Facility Agreement was signed on 5 July 2011.

Following the launch, the Facility was increased significantly to US$ 3,130,000,000 setting a new benchmark by becoming the largest ever syndicated transaction for a financial institution in CEE. Almost 30 international financial institutions coming from 16 countries including North America, Europe and Asia joined the transaction. This demonstrated the unwavering recognition and trust in VTB’s business strategy that the international banking community has consistently shown to the Borrower.

The Facility is structured as a 3-year and 3 day bullet repayment term loan facility. The proceeds of the Facility will be used for general corporate purposes including refinancing. It has a margin of 130 basis points per annum over LIBOR.

Herbert Moos, Deputy Chairman and the CFO, said: “We congratulate all participants of this exceptional transaction and are very grateful to all lenders that have supported VTB. The deal is unprecedented not only for the whole banking system of the Russian Federation but also for Russian borrowers. The terms and conditions of the syndicated loan, geographical breadth of participant banks, and the record amount signify an inspiring achievement for VTB. The successful closing makes this transaction the deal of the year within the borrowing plan of VTB Group. We highly appreciate the confidence of the international banks in VTB despite the challenging economic environment of this moment.” 

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