Sovcombank Raises USD 200m Syndicated Loan

MOSCOW, Sept. 26, 2019 /PRNewswire/ -- PJSC Sovcombank announced the signing of the debut syndicated facility agreement with a group of international banks in the amount of USD 200 000 000  with one year maturity. The loan will be used for trade related and general corporate purposes and bears interest rate of 3m Libor + 1.7% p.a.

Citibank N.A., London branch, OOO HSBC Bank (RR), ING Bank, PJSC ROSBANK and Commerzbank AG acted as Mandated Lead Arrangers.

ING Bank N.V. acts as coordinator and facility agent under the transaction.

"This debut syndicated loan is an important milestone in developing of Sovcombank's international activities. It demonstrates Sovcombank's high level of credibility, successful business model and sound financial results recognised by global financial institutions. We express  gratitude to our partners and are confident in further fruitful cooperation," said Dmitry Gusev, Chairman of the Management Board of Sovcombank.

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SOURCE Sovcombank