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Business news

10 Jul 2015

Belarusbank takes out largest syndicated loan on record

MINSK, 10 July (BelTA) – The Belarusian bank Belarusbank will get €203 million as the largest syndicated loan in the history of the Belarusian banking industry, the bank’s press service told BelTA.

The relevant agreement was signed in Saint Petersburg on 10 July. The pool of the international syndicate of banks includes 16 financial institutions from Russia and Kazakhstan. The mandated lead arrangers are AO Alfa Bank, AO AKB Novikombank, and PAO Promsvyazbank. The agent bank in charge of the deal is AO Alfa Bank.

Sergei Pisarik, Belarusbank Chairman of the Board, noted that the bank’s 12th deal on the syndicated lending market was a significant one for Belarusian borrowers. The size of the syndicated loan is the highest on record of the Belarusian banking industry while terms of the loan are the most comfortable terms Belarusian banks have been granted this year, he said.

The Belarusbank head said that expanding the geography of cooperation is one of the tasks in Belarusbank’s international business. This is why the presence of six new banks, including from Kazakhstan for the first time, confirms the multiple-vector nature of the strategy Belarusbank has chosen to build its presence on foreign markets.

The press service specified that the money borrowed via the syndicated loan will be used to effectively satisfy needs of Belarusbank’s key clients as they implement international projects.

The public joint-stock company (OAO) ASB Belarusbank is the country’s largest financial and credit institution. It offers over 100 kinds of banking services and products. It is the 14th largest bank in Central and Eastern Europe in terms of capital size.

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