- February, 28
Extension and increase of the USD 60,000,000 trade-related syndicated term loan facility dated 7th March 2006
On February 27th 2007, Raiffeisen Zentralbank Österreich AG («RZB»), and Standard Bank Plc («SB») and a consortium of lenders have signed into the extension and increase of the USD 60,000,000 Trade Related Syndicated Term Loan Facility for Bank FORUM. Due to strong investor demand the deal was increased to USD 85,000,000. This significant oversubscription underlines the strong confidence towards Bank FORUM, its sound strategy and strong shareholders base.
Details for the Facility are as follows:
Term: 364 days Repayment: Bullet Margin: 215 basis points p.a. Proceeds from the facility will be used by the JSC Bank Forum to finance trade-related projects of its customers.
Nineteen banks from the USA, Asia, CEE and Western Europe have joined the Facility. RZB and SBL acted as bookrunners, SB is facility and documentation agent. Fortis Bank S. A./N.V. joined the transaction as a mandated lead arranger.
Mandated Lead Arrangers and Bookrunners:
Raiffeisen Zentralbank Österreich AG
Standard Bank LondonMandated Lead Arranger:
Fortis Bank S.A./N.V.Senior Arrangers:
Anglo-Romanian Bank Limited
HSBC
National City Bank
Piraeus Bank
Rosemount Global Trade Finance Fund LPLead Managers:
AKA Ausfuhrkredit-Gesellschaft m.b.H.
Alpha Bank A.E.
American Express Bank GmbHJSC Bank Forum — the Borrower:
Since 01.01.2007 Bank FORUM is one of TOP 10 banks in Ukraine according to the NBU. As of 1 February 2007 FORUM had total assets of USD 1,465 million, shareholders’ equity of USD 152.2 million and profit for 2006 of USD 5.5 million (unaudited figures). JSC Bank Forum is headquartered in Kyiv and has 28 branches and 169 operational offices covering main cities and industrial centres of Ukraine. The bank provides a wide range of banking services to its more than 223,000 corporate and retail customers.
FORUM is rated B2/NP for long and short-term foreign currency deposits (positive/stable outlook respectively) by Moody’s Investors Service and B- and B issuer default ratings (stable outlook) for long-term and short-term deposits respectively by Fitch Ratings.