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MDM Bank Signs Mandate Letter to Arrange USD 175 mln Equivalent Dual Currency Syndicated IFC B-Loan Facility

25.08.2009 17:56

Yesterday MDM Bank signed a mandate letter to arrange a USD 175 mln equivalent dual currency syndicated B-Loan facility led by IFC and a group of Initial Mandated Lead Arrangers. The indicative terms of the loan are: a one-year term loan with bullet repayment and a margin of 4% per annum over LIBOR. Funds from this loan will be used to support trade financing or other trade-related projects of the Bank’s clients.

The Initial Mandated Lead Arrangers and Bookrunners for the B-Loan are CALYON, ING Bank N.V., Raiffeisen Zentralbank Oesterreich AG, Standard Chartered Bank and VTB Bank (Deutschland). IFC is the Agent and the Lender of Record. The facility will be launched into general syndication in September 2009.

IFC remains in the A-Loan 4-year term facility for USD 35 million, which was signed in July 2008. Commenting on the new loan facility, MDM Bank Deputy Management Board Chairman Vadim Sorokin said: “We are very pleased to announce the first international transaction for a privatelyowned Russian financial institution since the beginning of the financial crisis, and are hopeful that this marks the reopening of international markets for Russian banks.”

16.10.2009 18:00

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