Bank ZENIT Borrowed a Syndicated Loan of USD135 million
On Friday, 2 June 2, 2006, an agreement was signed in London to extend a syndicated loan of USD135 million to Bank ZENIT.
The syndicate included 27 banks from more than 10 countries. The loan was lead-managed by Bank Austria Creditanstalt AG, Commerzbank Aktiengesellschaft, Dresdner Bank AG, Natexis Banques Populaires, and RZB Group. The loan will be extended at LIBOR + 1.3 % p.a. and repaid within a year, with a possibility of a one-year extension.
'It is the largest fund-raising transaction conducted so far by the Bank in international capital markets', said Roman Pivkov, head of the of the Investment Department. 'Also, I'd like to note that we have managed to get a significant reduction of the premium over LIBOR compared to the preceding year.'
It is the fourth syndicated loan borrowed by Bank ZENIT.
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