Belagroprombank Raises USD 70 mn & EUR 29 mn Syndicated Facility
OREANDA-NEWS. October 20, 2014. Belagroprombank successfully raised the Syndicated Facility for the amount of USD 70 mln and EUR 29 mln for 1 year.
This loan resulted from the extension of the Syndicated Facility raised by Belagroprombank in October 2013 for the amount of USD 63.5 mln.
The banks participating in the deal are: JSC VTB Bank and VTB Bank (Deutschland) AG as Initial Mandated Lead Arrangers; JSCB “NOVIKOMBANK” and OJSC Promsvyazbank as Mandated Lead Arrangers; Intesa Sanpaolo SpA, London Branch as Lead Arranger, and “Asian-Pacific Bank”, AKA Ausfuhrkredit-Gesellschaft m.b.H, etc as Arrangers. VTB Bank (Deutschland) AG acted as Documentation and Facility Agent.
Extension of the loan was accompanied with the introduction of a new EURO tranche and New Lenders accession to the transaction. Having structured the transaction based on English law, Belagroprombank became the only Belarusian bank to receive a strong support from Russian relationship banks as well as from leading European financial institutions from Germany and Italy. Besides, at the result of the agreement achieved the Facility amount was increased from USD 63,5 mln to 107 mln in dollar terms making the present transaction to be not only the largest syndicated loan for the bank but also one of the largest on the Belarus market.
Negotiation process came in line with challenging external conditions caused by tensions escalation in neighboring countries as well as by the currency market liquidity reduction. Thus, the present transaction became the first major deal on the Belarus market since USA and EU sectoral sanctions been imposed against a range of Russian Federation companies and banks.
Now therefore, the JSC Belagroprombank Syndicated Facility in terms of its amount, tenor and its participants became another significant step on the way of successful pursuing by JSC Belagroprombank its policy on international business development.
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