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RZB arranges USD 212 mn syndication for Uralsib.

Commerzbank, Standard Bank, Sumitomo and RZB Mandated Lead Arrangers.Transaction oversubscribed by 100 per cent. 1-year maturity withextension option up to another year.

Commerzbank, Raiffeisen Zentralbank Osterreich AG together withRaiffeisenbank Austria in Moskau, Standard Bank Plc and Sumitomo MitsuiBanking Corporation Europe Limited have arranged a USD 212 mn syndicatedterm loan facility for the Russian Open Joint Stock Company Bank Uralsib(Uralsib).

The facility amount of USD100mn has been increased to USD 212mn due tothe strong demand of international investors. The pricing at 90 bps overLIBOR reflects the increasing international capital markets’ affiance in Russian banks.

„We’re delighted to use our origination an syndication skills in arranging transactions such as this in one of the world’s most competitive banking markets”, says Patrick Butler, Member of RZB’s Managing Board with responsibility for Financial Institutions, Treasuryand Investment Banking. “Those skills enabled RZB to become worldwide No.1 in arranging syndicated credits for financial institutions in 2005*”

Uralsib, which is based in the Russian Republic of Bashkortostan, formedas the result of the merger of NIKoil Financial Corporation and UralsibBanking Group. Uralsib operates a retail banking network of 600 branchesin 74 regions. It is the second-largest in Russia ranking behind that ofstate-owned Sberbank. As measured by equity Uralsib ranks fourth in theRussian Federation and it is number six by total assets.

Bashkortostan is a heavily industrialised region and with 4 millionpeople living there it has one of the highest population densities inRussia. The Republic is rich in oil, gas and metals. It is a rareexample of a Russian region where the largest companies were notprivatised but went into effective and/or formal control of the localgovernment. The Republic of Bashkortostan is rated BB- by S&P (upgradedfrom B+ in March 2004) that being among the highest ratings assigned toRussian regions, and viewed as one of the most stable regions in Russia.With moderate debt levels the Republic is a net contributor to theFederal budget.


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