Rosemount Capital Management, LLC is pleased to announce that Rosemount Global Trade Finance Fund, L.P. (“Rosemount”) and National City Bank, as Mandated Lead Arrangers, have closed a US$20,000,000, 2-year trade-related syndicated term loan for Joint Stock Commercial Bank “RosEvroBank” (“RosEvroBank”). The facility was signed on May 30, 2008, and will be disbursed during the week of June 9. Rosemount was the sole Bookrunner on the transaction, while National City Bank acted as Facility Agent. The lending group also included Indover Bank, FBN Bank (UK), LHB Internationale Handelsbank AG and Standard Bank Plc.
The Facility was originally launched at $15 million, but was increased to $20 million upon oversubscription. RosEvroBank will use the Facility proceeds to finance specified cross-border trade finance contracts of its strategic customers.
“We would like to thank the Mandated Lead Arrangers and Lenders on this new syndicated loan for their continuing support for our Bank,” said Alexander Arkhipov, Head of International Business Development at RosEvroBank. “This transaction was RosEvroBank’s seventh syndicated loan. We view it as quite a success, as RosEvroBank remains one of only a few Russian banks to have successfully tapped the international syndication market in these current challenging market conditions. Again, we are grateful to our partners for recognizing the Bank’s clear business strategy, strong financial position and positive development dynamics.”
According to Jim Leonard, Director of Originations at Rosemount Capital, “one of the first transactions our fund ever booked was a bilateral trade loan to RosEvroBank. Since then, we’ve concluded a steady stream of successful bilaterals, club loans and syndications for this fast-growing Moscow-based bank. Year to date 2008, Rosemount and National City Bank have raised $42.5 million in syndicated loans for RosEvroBank.”
RosEvroBank is a medium-sized Russian bank focused primarily on the servicing of corporate customers. As of April 01, 2008, the Bank had assets of over USD 2.5 billion, equity of USD 260 million and a loan portfolio exceeding USD 1.3 billion. RosEvroBank serves more than 12,000 corporate and 90,000 private customers in 30 Russian regions. More information is available at www.rosevrobank.com
Rosemount Global Trade Finance Fund, L.P. is managed by New York-based Rosemount Capital Management, LLC. The fund was launched in December 2005 and works with exporters, importers and banks on a global basis to provide traditional and innovative trade finance debt facilities. A more detailed description of Rosemount Capital and its business can be found at www.rosemountcapital.com. |
