Belagroprombank closed a unique deal for Belarus banking system
Belagroprombank raised a new Syndicated Loan of USD 190 million in equivalent. JointStock Company «ALFA-BANK», Joint Stock Bank "Transcapitalbank" andPromsvyazbank Public Joint-Stock Company acted as Mandated Lead Arrangers of theSyndicated Facility.
This Syndicated Facility is the largest in Belagroprombank’s track record of transactions oninternational debt capital markets. Furthermore, this deal is unique for the whole Belarus bankingsystem in terms of the loan structure. The Syndicated Facility granted to Belagroprombank isnominated in three currencies (Euros, US dollars and Russian rubles). The loan was credited toBelagroprombank’s accounts on March 29th, 2016.
- Closing of the mentioned transaction became possible thanks to the highest professionalismand precisely coordinated joint work of the Belagroprombank’s team as well as the teams of ourpartners – arrangers and participants of the loan. All parties worked like a Swiss clockwork,and that’s what allowed the banks to implement such a complicated by structure deal in currenteconomic conditions. We are sincerely grateful to each of our partners for the contribution theymade and the decisions jointly taken in order for this deal to become possible. –Belagroprombank’s Chairman of the Board Anatoli Lysiuk comments. – Speaking about thecomplicated structure of the loan, it is necessary to note that while its forming we primarilyfocused on the needs and demands of our corporate clients and taking this in mind we havecompiled the book of the loan. By the way, the book was oversubscribed almost two timescompared to the initially announced amount, indicating Belagroprombank’s credibility and aswell the bank’s excellent reputation among foreign partners.
A distinctive feature of the loan is the fact that 7 billion rubles of the Russian Federation wereraised at once. Focusing on the current needs of the bank’s clients for Russian ruble funds,Belagroprombank provides its customers-exporters to the Russian Federation with theopportunity of currency risk hedging.
This deal became the first to be closed by Belarus’ banks under the new conditions after thechanges introduced by the Bank of Russia to the Instruction “On mandatory ratios of banks”concerning the increase of the risk coefficient for the foreign currency nominated assets.Nevertheless, even in the environment of more rigid approaches and restrictions,Belagroprombank’s relationship banks from Russian Federation have demonstrated their strongsupport.
The Syndicated Facility together with the Mandated Lead Arrangers is formed by other leadingfinancial institutions of the region, participation of each of them is of high importance forBelagroprombank: Public Joint Stock Company "Interregional Bank for Settlements of theTelecommunications and Postal Services", Joint stock company Russian Agricultural Bank,Eurasian Development Bank, Joint Stock Company "Bank Finservice", Joint-Stock Commercial
Bank "AK BARS" (Public Joint-Stock Company), Joint Stock Oil-Industrial InvestmentCommercial Bank.JSC "Belagroprombank" expresses its gratitude to all participants of the Syndicated Facility, andcongratulates with the successful closing of the deal.
