OREANDA-NEWS. February 28, 2008. Belagroprombank signed a Facility Agreement related to a USD 40 mln syndicated loan. The Mandated Lead Arrangers were Commerzbank AG (Germany), Banco Finantia S.A. (Portugal) and Italian banking group UniCredit Group. Commerzbank International S.A. (Luxemburg) acts as Facility Agent for the transaction, reported the press-centre of Belagroprombank.

The initial amount of the loan was USD 20 mln. Considering the unfavourable conditions currently existing on the international financial market, the success of the deal depended on several factors. However, the flawless reputation of  Belagroprombank OJSC as one of the leading banks in Belarus and the professionalism and high status of the MLAs resulted in huge success. The MLAs note significant interest shown by investors from all over the world. As a result the loan was well oversubscribed, reaching USD 40 mln.

12 leading financial institutions from countries of Europe, Asia and Africa took part in the syndication. The term of the loan is 364 days with a 364-day extension option. The margin is remarkably low for Belarus at 3,1 per cent p.a., especially considering the unfavourable and unstable situation on the international financial market. Belagroprombank has once again confirmed its status as one of the leading Belarussian banks in terms of international fund-raising. This syndicated loan is the first significant international transaction for Belarussian banks in 2008. We do hope it will pave the way for more affordable funds and larger transactions for all Belarussian banks.