Alfa Bank signs US $20 million syndicated loan - biggest unsecured Russian financing since 1998 Russian financial crisis
Nine banks from eight different countries underwrote the short-term facility, which was priced at 375 points over LIBOR and arranged by Standard Bank London Limited.
"Alfa Bank is once again taking the lead in the international capital markets," says CEO Alex Knaster. "This is the biggest unsecured Russian Financial Institution risk syndicated in the International Loan Market since Russia's financial crisis in 1998."
The new loan will be used to finance trade-related projects for Alfa Bank's customers. The facility matures 180 days from the date of signing and can then be extended for a further 180 days. The facility is guaranteed by Alfa Bank Holdings Limited.
In addition to arranging and agenting the finance, Standard Bank also acted as the book runner. The managers were Dresdner Kleinwort Wasserstein, Donau-Bank AG, ING, Amsterdam Trade Bank N.V. and Russian Commercial Bank Ltd, Zurich. Baden-Worttembergische Bank AG and Natexis Banques Populaires joined as participants. The draw down of the facility is expected within the next few days.
Standard Bank London Limited
The mandated arranger and agent of the facility, Standard Bank London Limited, is the principal international merchant-banking subsidiary of the Standard Bank Group, one of Africa's leading banking and financial services institutions. Standard Bank Group has total assets exceeding US$36 billion and employs more than 32,000 people worldwide.
The international presence is controlled from Standard Bank London Limited and extends to Europe, Asia, the Far East, Middle East, USA and Latin America. Standard Bank London Limited has total assets in excess of ё;3.6 billion and employs more than 1,000 people. Standard Bank is an active arranger of syndicated loans, new issues, structured, project and trade finance facilities in emerging markets.
Standard Bank London Limited is regulated by the Financial Services Authority and is a member of the London Stock Exchange, the London Bullion Market Association, the London Metal Exchange and the London Platinum and Palladium Market. The bank is chairman of the London Platinum and Palladium Fix. It is a shareholder in the London Clearing House and has two seats on the New York Mercantile Exchange (COMEX division).
ABH Holdings S.A.
ABH Holdings S.A. (ABHH) is a privately owned Luxembourg-based holding company investing into several banking groups in the CIS and Europe. ABHH includes Alfa-Bank (Russia), Alfa-Bank (Ukraine), Alfa-Bank (Belarus), Alfa-Bank (Kazakhstan) and Amsterdam Trade Bank N.V. You can find more information on ABH Holdings S.A.'s website http://www.abhh.lu/