OJSC Bank Saint-Petersburg (BSPB) has announced that its syndicated trade-related term loan facility has been closed by Raiffeisen Zentralbank Österreich (RZB), ZAO Raiffeisenbank Austria (RBA) (together – RZB Group), Standard Bank and ZAO Standard Bank, JSC VTB Bank and VTB Bank Europe (the ‘mandated lead arrangers’ and ‘bookrunners’). Standard Bank acted as documentation and facility agent. The facility closed 150% oversubscribed from the launch amount of US$40m. The borrower has decided to increase the facility to US$100m, which is the largest syndicated loan for BSPB to date. The facility is for 12 months with a 12-month extension option (at the lenders’ discretion) and carries a margin of Libor + 2.15% per year.
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