Belagroprombank raised Syndicated Facility in the amount of EUR 190 million
On the 5th of April, 2017 Belagroprombank raised another Syndicated Facility in the amount of EUR 190 million. The structure of the Syndicated Facility granted to Belagroprombank consists of two tranches for a term of 1.5 year and 1 year respectively with an option of extension for a subsequent similar term.
The Syndicated Facility was formed by the leading Russian financial institutions, which each participation is highly appreciated by Belagroprombank.
Public Joint-Stock Company "Bank Otkritie Financial Corporation" and TRANSCAPITALBANK acted as Bookrunners of the Syndicated Facility.
Joint stock company Russian Agricultural Bank, Promsvyazbank Public Joint-Stock Company, Gazprombank (Joint Stock Company), AK BARS Bank (Public Joint-Stock Company), Public Joint-Stock Company Sovcombank, Commercial Indo Bank LLC and Nefteprombank also participated in the Syndicated Facility.
- This transaction is unprecedented in its terms of the lending period. At a time when one of the serious challenges for the Belarusian banking system is raising foreign funding for a short term, as was mentioned by The National Bank of the Republic of Belarus previously, Belagroprombank during the implementation of the transaction focused on the term of the Syndicated Facility. The intention to attract long-term funding was successfully achieved. Long-standing partnership with the leading financial institutions of the region allowed Belagroprombank to be the first among the Belarusian banks to raise the Syndicated Facility 90% of which was granted for a period of 1.5 year with an option of extension for a subsequent similar term. – Belagroprombank’s press secretary comments. - The bank’s excellent reputation among foreign partners and steady financial indicators provided strong demand for participation in the transaction. The book was oversubscribed over three times compared to the initially announced amount of the facility. It is gratifying to emphasize that along with long-standing partners of Belagroprombank new financial institutions participated in the deal, which never had an experience of cooperation with Belarusian borrowers before. It is also revealing that such new participants have decided to stake in the debut deal with the 1.5-year tranche.
JSC "Belagroprombank" expresses its gratitude to all participants of the Syndicated Facility, congratulates with the successful closing of the deal and looks forward to the joint implementation of other significant projects in the future.
