Standard Bank's loans
Bank ZENIT received a 1-year syndicated loan organised by Standard Bank. The syndication was successfully completed on 27 April, and the loan was extended on 7 June. This is the first known syndicated loan to a Russian financial institution after the Russian financial crisis of August 1988.
Lead managers of the loan included Credit Suisee First Boston, Dresdner Bank, Moscow Narodny Bank and Ost West Handelbank.
The $20 million loan is an untied facility. Bank ZENIT is an active participant of the Russian financial market. A significant share of the Bank's revenues comes from interest on loans extended by the Bank. Bank ZENIT provides loans to enterprises in the following sectors: oil production and refining; metallurgy; defence, food and liquor industries; and gold production.
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