UkrSibbank raises a USD 110mln syndicated loan

JSCIB "UkrSibbank" obtained a syndicated loan in the total amount of USD 110mln. Syndicated loan provides for two tranches in the amount of USD 80mln and 30mln and for the periods of two and one year correspondently. Two-years tranche has a floating interest rate of six-months rate LIBOR + 1.20% per annum, whereas the rate for one-year tranche equaled to six-months LIBOR + 0.80% p.a. Bayerische Landesbank, BNP Paribas Finance p.l.c. and HSBC Bank plc acted as the authorized managers and bookrunners.

"Liquidity crisis on the international financial markets and alienation of investors’ interest in emerging ones formed an obstacle which UkrSibbank aptly overcame. This is the most successful syndicated loan raised by Ukrainian bank since the break-out of instability at the international markets", – commented Oleksandr Adarich, Chairman of the Board, JSCIB "UkrSibbank".

The raised funds are intended to finance general corporate objectives of UkrSibbank, which include, but are not limited to, trade finance-related transactions of the Bank’s clients.

"This is the fifth syndicated loan raised by UkrSibbank, it being the second one in this year. In May, 2007 UkrSibbank obtained a USD 250mln syndicated loan for a two-years period (although initially it was planned to mobilize only 150mln US dollars). To date that syndicated loan in terms of cost is considered a benchmark for similar deals with a two-years maturity for Ukrainian banks", – stated Oleksandr Sulyayev, Deputy Chairman of the Board, JSCIB "UkrSibbank".

7 leading foreign banks which participated in that syndicated loan are mentioned in the table below.

Banks as managers and participants of syndicated loan:

In this deal Bayerische Landesbank acted as a credit agent, whereas BNP Paribas Finance p.l.c. acted as a documentation agent.

"Initially we estimated to mobilize USD 100mln, though, the collected amount topped driven by oversubscription and demand from the part of investors despite the market difficulties. In view of the requirements to the volume of funds in then-current need the loan amount was decreased up to USD 110mln. This transaction proved the UkrSibbank’s capability to enter the international debt capital market and to strike successful deals irrespective of market situation", – underlined Vadym Myronyuk, Head of International Banking Division, JSCIB "UkrSibbank".

Reference:

JSCIB «UkrSibbank» (www.ukrsibbank.com) was registered on June 18, 1990. The Bank has a full NBU license ¹ 75 dated December 24, 2001 on banking. As of 01.10.2007: net assets – UAH 32.7bn, capital – UAH 4.1bn, loan and investment portfolio makes up UAH 28.5bn, corporate clients’ funds – UAH 5.0bn, individuals’ funds – UAH 4.5bn. At present regional network amounts to 1000 branches and outlets nationwide. 69 thousand Ukraine’s businesses are customers of JSCIB “UkrSibbank”; number of individuals’ accounts exceeds 3.0mln. In April 2006 it was closed a deal on BNP Paribas purchase of 51% of shares in JSCIB “UkrSibbank”.

BNP Paribas (www.bnpparibas.com) is a European leader on baking and financial market with significant and expanding presence in the USA and leading positions in Asia. The Group is one of the largest world’s banking networks, which is operating n more than 85 countries. Headcount of BNP Paribas exceeds 140 000 employees, including some 110 000 of them throughout Europe. BNP Paribas is a leader developing three key directions: corporate and investment banking, asset management and retail banking

Press-center of JSCIB «UkrSibbank»:
Lilija Bevzjuk +38 (044) 537 49 18 bevzuik@ukrsibbank.com
Tatjana Shikerjavaja +38 (044) 201 22 71 T_Shikerjavaja@ukrsibbank.com
Victoria Pashevskaja +38 (044) 201 22 71 V_pashchevskaya@ukrsibbank.com
Yulia Kil’mukhametova +38 (044) 201 22 71 julia.kilmukhametova@ukrsibbank.com