OJSC Bank ZENIT raised the EUR 95,750,000 and USD 5,000,000 syndicated term loan facility
Moscow, 24 October, 2008 Bank ZENIT raised the EUR 95,750,000 and USD 5,000,000 syndicated 364 day term loan facility. The facility was arranged by Bayerische Landesbank, Commerzbank Aktiengesellschaft, Erste Group Bank AG, Intesa Sanpaolo Ireland P.L.C., Raiffeisen Zentralbank Oesterreich AG, and WestLB AG, London Branch (who also acted as the facility agent). The facility closed fully subscribed. 6 European banks joined the syndication. The facility carries a margin of 160 bps over EURIBOR/LIBOR. It will be used to finance Bank ZENIT clients' trade operations.
Commenting on the closed deal, Bank ZENIT Chairman of the Management Board Mr. Kirill Shpigun expressly underlined that "the successful closing of the public transaction once again vividly demonstrated the high degree of trust of Western partner banks, even in the situation of instability in the international financial markets".
FOR REFERENCE:
Banking Group ZENIT was formed in 2005 as a result of the purchase by Bank ZENIT of a controlling stake in JSB Devon-Credit (OJSC). In 2007, the Banking Group acquired OJSC Lipetskkombank and JSB Sochigazprombank LLC (later renamed into Bank ZENIT Sochi). According to the consolidated statement of the Banking group for 2007, made in accordance with IFRS, the equity capital of the Banking group amounts to $738 mn, the assets amount to $6,645 bn. The Group provides a full-scale range of banking services in the following areas: comprehensive services to the corporate clients, retail services, private banking, investment banking and interbank business. Banking Group ZENIT is represented in 21 of 83 regions of the Russian Federation; its own retail network consists of 154 points of sale. The Group has created a wide international correspondent network of banking partners, with co-operation from more than 80 international institutions in Europe, America and Asia. Bank ZENIT is currently rated Bа3/Stable by Moody's and B+/Stable by Fitch. Being an active debt market player, Bank ZENIT arranged 8 international syndicated loans, 2 Eurobond issues (the debut issue was repurchased in 2006) and 5 ruble bond issues (the debut issue was repurchased in 2007).
RZB, Charles-Henry de Fontenilles
Tel: +43 1 717 07 1247, fax: +43 1 717 07 2388
e-mail: charles-henry.defontenilles@rzb.at
Banking Group ZENIT Press center
Tel: +7 (495) 937 07 37, +7 (495) 777 57 07
e-mail: info@zenit.ru
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