Bank ZENIT Borrowed a Syndicated Loan of $85 Million
The agreement to extend a $85-million syndicated loan to Bank ZENIT was signed in October 2006. The syndicate involves 19 banks from 12 countries. The loan was lead managed by: Commerzbank Aktiengesellschaft, ING Bank N.V., RZB Group, and Sumitomo Mitsui Banking Corporation Europe Limited.
The loan terms include the interest rate of LIBOR+1.1% p.a. and 1 year maturity, with a one-year extension option. The Bank will use the loan amount to finance the clients' export/import transactions.
It is the fifth syndicated loan in ZENIT's history and its second syndicated loan in 2006.
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