OREANDA-NEWS. On 13 April 2009 was announced, that on April 8th, 2009 AK BARS Bank repaid the syndicated loan in the amount of USD 200 million.

A year ago, on 09 April 2008 AK BARS Bank successfully closed the syndication of the USD 200,000,000 syndicated trade related term loan facility arranged by the Mandated Lead Arrangers and Bookrunners Banco Finantia, S.A., Commerzbank Aktiengesellschaft, ICICI Bank UK PLC, Landesbank Berlin AG and WestLB AG, London Branch.
The facility was launched on 27 February 2008 at USD 75,000,000 and achieved a great success in the market. Having raised a substantial oversubscription AK BARS Bank decided scale back to USD 200,000,000.

Key parameters of the Facility: tenor - 1 year, margin - 1.50% p.a., purpose - trade related.

The lenders – 28 banks, one of which is a Russian bank with foreign bank’s shareholding.

The AK BARS Bank’s deal is indicative. Taking into account the existing market environment it demonstrates the openness of foreign banks to cooperate with Russian financial institutions and lend funds to Russian banks with reliable financial reputation.