Sberbank raises US$1.5bn loan

Sberbank raises US$1.5bn loan

Published: October 18, 2012

Syndicated facility from international lenders is largest deal for Russian bank this year.

Russia's Sberbank has raised US$1.5bn in a syndicated loan from foreign banks.

The bank has raised the money in a three-year facility priced at 150 basis points over LIBOR.

Announcing the deal, Herman Gref Sberbank's CEO and chairman, said: "We are happy about expanding long-term relations with the banks participating in this syndicated loan, which became a symbolic event not only in the Russian but also in international financial markets." Indeed, the bank notes that this is the largest deal for a Russian lender so far this year.

Bank of America Securities, The Bank of Tokyo-Mitsubishi UFJ, Barclays, BNP Paribas, Citibank, HSBC, ING Bank, JP Morgan, Mizuho Corporate Bank and Sumitomo Mitsui Banking Corporation acted as lead arrangers and bookrunners. Bank of New York Mellon participated as a lead arranger while Commerzbank acted as joint arranger.