The Facility has a tenor of 364 days and pays a margin of 1.00% p.a. over LIBOR. Proceeds of the Facility will be used by Uralsib to finance trade related contracts of its clients. The Facility agreement was signed on 3rd of July 2008.
Launched at an amount of $150m, the facility was oversubscribed by 108%, closing at $313m with the participation of 32 banks from across the globe.
BayernLB, Credit Suisse, Emirates NBD and ING acted as bookrunners for this transaction with Emirates NBD being the Co-ordinating Initial Mandated Lead Arranger.
Mr Mohammad Kamran Wajid, Deputy General Manager & Global Head Financial Institutions Emirates NBD said, "I am proud to state that despite tough market conditions, this transaction achieved an impressive oversubscription of 108%, attracting participations from 32 banks across the globe. The geographic diversification of the participant list is a clear testament to Emirates NBD's strong position as one of the leading arrangers of debt capital market transactions globally, in addition to its clear leadership position in the Middle East."
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Emirates NBD arranges for $313m syndicated term loan facility for OSJC Bank Uralsib
- United Arab Emirates: Sunday, July 06 - 2008 at 16:20
- PRESS RELEASE
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Bayerische Landesbank (BayernLB), Credit Suisse, Emirates NBD, ING Wholesale Banking and National Bank of Oman, as Initial Mandated Lead Arrangers are pleased to announce the successful signing of a $313m syndicated term loan facility (the Facility) for OJSC Bank Uralsib ('Uralsib' or 'the Bank').
Ms Andrea Inancsi, Vice President ING, Mr. Ulrich Mattonet, Senior Executive Vice President, Global Head Financial Institutions/Head of Syndications, Bayern LB, Mr. Alexander Dementiev, Deputy Chairman of Management Board, URALSIB Bank, Mr. Abdul Wahed Al Fahim, General Manager, Wholesale Banking, Emirates NBD, Mr. Mohamed Wajid Kamran, Global Head of Financial Institutions Division, Emirates NBD, Mr. Baqer Taki Al Lawati, Assistant General Manager and Head of Financial Institutions National Bank of Oman.
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Posted by Medilyn Manibo, Assistant News EditorSunday, July 06 - 2008 at 16:20 UAE local time (GMT+4)
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About OJSC Bank Uralsib
OJSC Bank Uralsib was established in 1993 by the Government of Bashkortostan (a Sub-Sovereign Republic within the Russian Federation). Uralsib in its current form was created as a result of the merger of OJSC Ural-Siberian Bank ("Ural-Siberian") with its subsidiary Kuzbassugolbank and its three sister banks, Avtobank-NIKoil, Corporate and Investment bank IBG NIKoil and regional bank Bryansky Narodny.
At the end of 2007, Uralsib ranked 9th among Russian banks in terms of assets. The Bank's consolidated assets and equity aggregated to RUB374bn ($15.26bn approximately) and RUB47bn ($1.96bn approximately) respectively as at 31st December 2007. Uralsib's retail banking network of 626 offices in 47 different regions is the third largest in Russia (after the state-owned Sberbank and Russian Agricultural Bank) and is the most extensive amongst privately owned Russian banks.
On May 15th 2008, Standard & Poors Ratings services raised its long-term counterparty credit rating on Uralsib to BB- from B+ and affirmed the short-term counterparty credit rating at B, with a stable outlook. Uralsib is also rated by Moodys (Ba3 / NP) and Fitch (B+ / B).
For further information, please do not hesitate to contact:
Mohammad Kamran Wajid
Global Head Financial Institutions
Emirates NBD
Tel: + 9714 209 2237 / +97150 6574107 / +97150 6547795
OJSC Bank Uralsib was established in 1993 by the Government of Bashkortostan (a Sub-Sovereign Republic within the Russian Federation). Uralsib in its current form was created as a result of the merger of OJSC Ural-Siberian Bank ("Ural-Siberian") with its subsidiary Kuzbassugolbank and its three sister banks, Avtobank-NIKoil, Corporate and Investment bank IBG NIKoil and regional bank Bryansky Narodny.
At the end of 2007, Uralsib ranked 9th among Russian banks in terms of assets. The Bank's consolidated assets and equity aggregated to RUB374bn ($15.26bn approximately) and RUB47bn ($1.96bn approximately) respectively as at 31st December 2007. Uralsib's retail banking network of 626 offices in 47 different regions is the third largest in Russia (after the state-owned Sberbank and Russian Agricultural Bank) and is the most extensive amongst privately owned Russian banks.
On May 15th 2008, Standard & Poors Ratings services raised its long-term counterparty credit rating on Uralsib to BB- from B+ and affirmed the short-term counterparty credit rating at B, with a stable outlook. Uralsib is also rated by Moodys (Ba3 / NP) and Fitch (B+ / B).
For further information, please do not hesitate to contact:
Mohammad Kamran Wajid
Global Head Financial Institutions
Emirates NBD
Tel: + 9714 209 2237 / +97150 6574107 / +97150 6547795
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