Emirates NBD joins loan syndication for Russian bank
Emirates NBD along with Standard Chartered Bank and Wells Fargo Bank lead arranged a $110m syndicated term loan facility for OJSC Bank URALSIB
Dubai: Emirates NBD along with Standard Chartered Bank and Wells Fargo Bank lead arranged a $110 million syndicated term loan facility for OJSC Bank URALSIB.
Launched at $100 million, the facility was oversubscribed to close at $110 million.
The Facility has a tenor of one year and carries a margin of 2 per cent per annum over London Interbank offered rate (Libor).
Proceeds of the facility will be used by URALSIB for general trade finance purposes. The facility agreement was signed on September 8, 2011.
Bank Uralsib is the 12th largest bank in Russia in terms of assets with consolidated assets at January 1, 2011 amounting to $13.7 billion and equity of $1.9 billion.
