Last Updated June 03, 2010
Bank hopes deal for Promsvyazbank kick-starts market recovery.
The European Bank for Reconstruction and Development (EBRD) has raised US$250mn for Russia’s Promsvyazbank in a syndicated loan involving 11 international banks.
The EBRD hopes the deal demonstrates a recovery in Russia’s syndicated loans market.
Mandated lead arrangers for part of the loan were Commerzbank, Credit Suisse, HSBC, ING, Oversea-Chinese Banking Corporation, Royal Bank of Scotland, Raiffeisen, Standard Chartered Bank, UniCredit, VTB and WestLB.
The EBRD previously arranged a US$300mn loan for Promsvyazbank in 2007, including a US$215mn portion syndicated to 33 banks. The EBRD took an 11.75% stake in the bank in a deal last year.
Reader Comments