Alfa-Bank (Belarus) raises a syndicated loan of USD 35 mln
October 16, 2013
Alfa-Bank (Belarus) signed a syndicated loan of USD 35 mln for a period of 6 months with possible extension for another 6 months.
According to the bank's press service, the rate on the loan was LIBOR (3m) +5,25% p.a., which is below the average costs of financing raised by commercial banks in Belarus in the public debt markets, and corresponds to the market benchmark set in April of 2013, when Alfa -Bank raised its debut syndicated loan in the international market.
Alfa-Bank (Russia) is the book-runner of the deal, while AKA Bank (Germany) is the Agent Bank. Joint Arrangers are NOVIKOMBANK (Russia), PromSvyazBank (Russia), Gazprombank (Russia), Regionala investiciju banka (Latvia). Lead Managers: Baltikums Bank AS (Latvia), Investtorgbank (Russia), AS PrivatBank (Latvia), Asian-Pacific Bank (Russia).
"The key feature of this loan is a wide range of participating banks and a large - about 40% - share of participants from outside the CIS, which is not exactly typical of syndicated loans raised by Belarusian banks", said the director of investment business at Alfa-Bank (Belarus) Sergei Mukhanov. "We also managed to maintain a low cost of borrowing and secure significant oversubscription against the originally announced USD 25 mln amidst unfavorable external conditions, which speaks for the high credit quality of Alfa-Bank (Belarus) and its attractiveness as a borrower".
As previously reported, Alfa-Bank (Belarus) in April 2013, raised a debut syndicated loan of EUR 20 mln in the international market on similar terms. Joint Arrangers of the deal were Alfa-Bank (Russia), AKA Bank (Germany), NOVIKOMBANK (Russia), Amsterdam Trade Bank N.V. (Netherlands), Svyaz-Bank (Russia), Russlavbank (Russia), Trasta Komercbanka (Latvia).
Alfa-Bank (Belarus) reminds that it is one of the leading arrangers in the Belarus market of syndicated lending. Since 2009, the bank arranged syndicated loans for more than USD 1 billion. In particular, in November 2012, Alfa-Bank (Russia) and Alfa-Bank (Belarus) provided a syndicated loan to Eurotorg (Euroopt retail chain) of USD 100 mln.
Alfa Group consortium owns more than 98% of Alfa-Bank (Belarus).
Company — Alfa-Bank (Belarus)
Full nameCLOSED JOINT-STOCK COMPANY "ALFA-BANK"
Credit — Alfa-Bank (Belarus), 10.2013
date of signingOctober 2013
Maturity dateApril 2014