On April 10, a supplement to the credit agreement with Etalonbank was signed, extending the term of the RUR 250 million syndicated loan and increasing the amount of the loan to RUR 295 million. ZAO Raiffeisenbank and Raiffeisen Zentralbank Oesterreich AG served as lead organizers for the loan.
The new loan term is 183 days (margin — 6% annual). Etalonbank plans to use the funds to increase its active operations and provide loans to corporate clients as part of its effort to expand its credit portfolio.
Co-organizer National Reserve Bank has left the syndicate. Joining lead organizers ZAO Raiffeisenbank and Raiffeisen Zentralbank Oesterreich AG and lead manager ZAO UniCredit Bank are new syndicate members OAO Bank Zenit (lead manager), ОАО Kraiinvestbank (co-lead manager), and ООО MBA Moscow (manager).
In 2005-2007, Raiffeisenbank served as syndicated loan organizer for Russian borrowers in sectors including retail, electric utilities, commercial property, telecommunications and banking for a total amount of up to USD 7.5 billion.
ZAO Raiffeisenbank is a subsidiary of Raiffeisen International Bank-Holding AG. Raiffeisenbank is the largest foreign-owned bank in Russia, ranking 7th in terms of assets among top Russian banks based on 2007 results (Interfax-CEA). Raiffeisenbank is ranked 7th in terms of corporate lending based on 2007 results (Interfax-CEA). According to Interfax-CEA, ZAO Raiffeisenbank ranked 4th in Russia in terms of private deposits and 6th in consumer lending in Russia based on 2007 results.
Raiffeisen International operates one of the largest banking networks in CEE. 17 markets of Europe’s growth region are covered by subsidiary banks, finance leasing companies, a representative office and a number of other financial service providers. Over 14 million customers are attended to through more than 3,000 business outlets. Raiffeisen International is a fully consolidated subsidiary of Raiffeisen Zentralbank Osterreich AG (RZB), which owns 68.5 per cent of the common stock. The balance is free float, the shares are traded on the Vienna Stock Exchange. RZB is a leading corporate and investment bank in Austria and the central institution of the Austrian Raiffeisen Banking Group, the country’s largest banking group.