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Eurasian Development Bank closed USD 300 million debt facility

  • RZB acts as book runner and mandated lead arranger
  • Successful deal despite delicate market situation

On 1 August 2008, the USD 300 million debt facility for the Eurasian Development Bank (EDB, owned by Russia and Kazakhstan has successfully been signed. It is EDBs third international syndicated loan. Raiffeisen Zentralbank Osterreich AG (RZB) acted as book runner as well as mandated lead arranger together with ING, SMBCE and WestLB (all bookrunners).

Originally, the deal was launched at USD 125 million and subsequently increased to USD 300 million following an oversubscription. The facility has a tenor of 2 years and margin of 100 basis points p. a. It will be used for general corporate purposes, including for its growing investment portfolio. 26 banks participated in the deal, with mostly German speaking and Taiwanese banks among the investors. EDB, whose current credit ratings are BBB+/BBB+/A3, raised USD 150 million in December 06 and USD 400 million in December 07. This transaction was assigned an individual rating of BBB+ by Standard & Poors. 

Given current challenging market conditions for Kazakh borrowers and a generally tough market, the success of this deal is notable. It underlines the reality, though, that borrowers with a good track record, solid shareholders, sensible pricing and the right mandated lead arrangers can still secure financing in size, says Patrick Butler, responsible for RZBs Investment Banking.

Raiffeisen Zentralbank Osterreich AG (RZB) is the central institution of the Austrian Raiffeisen Banking Group, the countrys largest banking group. It is a leading corporate and investment bank in Austria and also considers Central and Eastern Europe (CEE) as its home market. RZB is the only Austrian bank with a global network of business units reaching all important finance centres around the globe. It is also present in Asia via its branches and representative offices.

Via listed subsidiary Raiffeisen International Bank-Holding AG, RZB operates one of the largest banking networks in CEE. 17 markets are covered by subsidiary banks, finance leasing companies and a range of other financial services providers. Over 14 million customers are served in more than 3,000 business outlets.

RZBs balance-sheet total amounted to 134.4 billion euros at 31.12.2007, 18.8 per cent more than at year-end 2006. Pre-tax profit for the period increased by 15.5 per cent to 1,485 million euros.

For further information please contact Andreas Ecker-Nakamura (+43-1-71 707-2222, or Gregor Bitschnau (+43-1-71 707-1955,


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