JSSB “Belarusbank” has successfully completed another deal to raise an international syndicated loan. The loan agreement was signed on 24 April 2007 in Munich (Germany).
As a result of syndication the final amount of credit exceeded the initially planned amount of the deal by nearly two times and totalled US $ 38 000 000. This became possible through a “club” loan-raising technology – only the most likely partners of the Bank on the international market of syndicated borrowings were invited to take part in syndication.
Bayerische LB (Germany) acted as the Mandated Lead Arranger with 12 leading financial institutions from 9 countries of the world participating in the syndicated loan.
This syndicated loan is the third in the Bank’s history. In March 2006, JSSB “Belarusbank” became one of the first among Belarusian banks to start using the instrument of international syndicated borrowing.
The funds raised by JSSB “Belarusbank” will be used to credit the real sector of the country’s economy.