14 march 2008Ukreximbank announces successful accomplishment of the US$ 345 million Syndicated Loan Facility.Joint Stock Company The State Export-Import Bank of Ukraine (the JSC Ukreximbank) announces the recent signing of the one-year US$345mn Syndicated Term Loan Facility, re-opening syndicated loan market for Ukrainian banks in 2008 and re-financing its Apr2007 Term Loan Facility for US$325mn.
Over 30 banks joined the facility arranged by BayernLB, Deutsche Bank London and Standard Bank Plc, with many new names participating.
The deal was closed within record-breaking one month term and received very positive response from the market, which allowed increasing the Facility amount to US$345mn.
Success of the transaction was also marked by the Facility margin of 0.80% p.a. over Libor, which equals to the terms of the previous Facility for Ukreximbank. This is the best pricing to a Ukrainian bank in 2008, which have re-established benchmark for further syndications arranged for Ukrainian banks.
In the current environment of the continued credit crunch and noticeable price hike in global financial markets, the JSC Ukreximbank has again confirmed its status as a successful market player and a reliable partner.
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