The Original Mandated Lead Arrangers and Underwriters, CommerzbankAktiengesellschaft, Raiffeisen Zentralbank Osterreich AG and ZAO«Raiffeisenbank Austria» (RZB Group) have successfully completed a USD 300 million Syndicated Term Loan Facility issuance for LLC “News Outdoor Rus”. The Banks signed the loan agreement on 28th November, 2006. RZB Group acted as Bookrunner and Facility Agent.
The transaction was well appreciated by the investors and the Facilitywas oversubscribed.
This financing represents the largest ever syndicated loan deal issuedto a Russian advertising company and demonstrates the investors’ readiness to invest not only in Russia’s energy and commodities sector.
The deal consists of two parts: USD 145 mln tranche to refinance theloan of the Borrower with the European Bank for Reconstruction andDevelopment and USD 155 mln tranche to finance a part of the Borrower’s acquisition program, capital expenditures and general corporate purposes.
|Amount||USD 300 mln|
|Repayment||Semi-annual instalments starting|
2 years after Signing
|Margin||Net debt / earnings before|
interest, taxation, depreciation
|>=1,25 and 2,00||220|
|>=2,00 and 2,50||250|
|>2,50 and =3,50||285|
|Commerzbank Aktiengesellschaft||Original Mandated Lead Arranger|
|RZB Group||Original Mandated Lead Arranger|
|Standard Bank Plc||Mandated Lead Arranger|
|ZAO CALYON RUSBANK Corporate and|
|ZAO«International Moscow Bank»||Arranger|
|Raiffeisen Oberoesterreich Aktiengesellschaft||Arranger|
|Banca Intesa SpA / ZAO Banca Intesa SpA||Arranger|
|VTB Bank (France) SA||Lead Manager|
|BNP PARIBAS||Lead Manager|
|IKB Deutsche Industriebank AG||Lead Manager|
|INVESTKREDIT BANK AG||Lead Manager|
|Nova Ljubljanska banka d.d. (city of Ljubljana)||Lead Manager|
News Outdoor Rus is a limited liability company, established in theRussian Federation in 1995, and is owned and controlled by theinternational media company News Corporation headed by Rupert Murdoch.
NewsOutdoor Rus is the largest“out-of-home” advertising media operator in Russia offering advertising facilities of different format (billboards, street furniture (e.g. bus shelters), transit, airport and point-of-sale advertising).
ZAO"Raiffeisenbank Austria" ranks the 9th position among the largestRussian banks in terms of assets volume based on Q3 2006 results (CEAInterfax). As of today the Bank has 20 offices in Moscow, 5 offices inSaint-Petersburg and regional branches in Ekaterinburg, Samara,Novosibirsk, Chelyabinsk, Nizhniy Novgorod, Krasnodar, Krasnoyarsk andPerm. In terms of corporate loan portfolio Raiffeisenbank is on the 9thposition under the results of Q3 2006 (CEA Interfax).
ZAO"Raiffeisenbank Austria" is a subsidiary of Raiffeisen InternationalBank-Holding AG (Raiffeisen International) that operates subsidiarybanks and leasing companies in 16 markets in Central and Eastern Europe.11 million customers are attended through more than 2,700 businessoutlets. Raiffeisen International is a fully consolidated subsidiary ofRaiffeisen Zentralbank Osterreich AG (RZB), which owns 70 per cent ofthe common stock, the remaining 30 per cent is free float and the sharesare traded on the Vienna Stock Exchange. RZB is a leading corporate andinvestment bank in Austria and the central institution of the AustrianRaiffeisen Banking Group, the country''s largest banking group.
In 2005-2006 ZAO"Raiffeisenbank Austria" acted as an Arranger ofsyndicated loans for Russian borrowers in the field of retail trade,fuel and power industry, metallurgy, commercial real estate,telecommunications and banking services for a total of about USD 4.2 bln.
For additional information please contact:
Russel Hoare tel. +44 20 7782 6717
CFO, News OutdoorGroup
Olga Bortnyaeva tel. +7 095 926 5200
CFO, News Outdoor Rus
Onbehalf of Mandated Lead Arrangers please contact:
RZB tel. +43 1 71707 1826