AK BARS Bank raised the syndicated loan facility with oversubscription by more than 2,5 times

On 9 April, 2008 AK BARS Bank successfully closed the syndication of the US$ 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 US$ 75,000,000 and achieved a great success in the market. Having raised a substantial oversubscription AK BARS Bank decided scale back to US$ 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.

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