OREANDA-NEWS. February 15, 2011. MDM Bank has successfully closed syndication of its USD 300 million equivalent dual tranche dual currency syndicated term loan facility. Despite oversubscription from the market MDM Bank opted not to increase the facility size. Participations were scaled back and the Facility Agreement was signed at USD 300 million equivalent.

The facility is divided between a one year bullet repayment tranche of USD 150 million equivalent and a three year tranche with an amortising repayment structure of USD 150 million equivalent. The borrowing will be used by MDM Bank for its customers’ trade related projects. The 1-year tranche pays LIBOR/EURIBOR plus a margin of 2,2% p.a. and the 3-year tranche pays LIBOR/EURIBOR plus a margin of 3,5% p.a.

Credit Agricole Corporate and Investment Bank, Credit Suisse AG, Erste Group Bank AG, HSBC Bank plc, ING Bank N.V, Raiffeisen Bank International AG together with ZAO Raiffeisenbank, VTB Bank (Deutschland) AG and WestLB AG, London Branch acted as the Initial Mandated Lead Arrangers and Bookrunners of the Facility. Raiffeisen Bank International AG is coordinating bank and WestLB AG, London Branch is the Agent of the facility.

This is the first three-year non-sponsored international syndicated loan facility for a Russian private bank since the financial crisis.