Russia's Tatfondbank Completes Syndicated Trade-related Loan Facility
JSC AIKB Tatfondbank (Tatfondbank) has announced that its US$36m syndicated trade-related loan facility was successfully completed and signed on 22 August 2007. Standard Bank acted as sole initial mandated lead arranger, bookrunner and agent. The facility closed 17% oversubscribed from the launch amount of US$30m. The borrower has elected to accept the oversubscription and as such the facility closed at US$36m. This is the first international syndicated loan for Tatfondbank. The facility is structured as a 364-day trade-related syndicated loan with a bullet repayment and carries an interest margin of 2.35% p.a. above Libor. The borrower will use the facility proceeds to finance and refinance its trade finance activities.