Loans.Cbonds : URSA Bank takes $150 mln syndicated loan

17.07.2008 - INTERFAX via Banki.ru

URSA Bank takes $150 mln syndicated loan

URSA Bank has raised a $150 mln syndicated loan at LIBOR + 1.6%, tripling the initially sought amount, a bank source told Interfax-AFI. The loan is designated for trade financing. Arrangers involve ICICI Bank, RZB, Calyon and ING.

The lending institution launched loan syndication for $50 mln in mid-May. In the middle of June URSA Bank’s first deputy general director Vladislav Khokhlov said that the lender was going to lift the sum of the syndicated loan to $75 mln.

In Q108, URSA Bank ranked 16th in terms of assets in the Interfax-100 ranking, prepared by Interfax-CEA.

Issuer profile: Sibakadembank was renamed URSA Bank in December of 2006 due to the merger of Sibakadembank and Uralvneshtorgbank.

OAO URSA Bank is the largest Russian regional bank with foreign ownership that was established through merger of OAO Sibakadembank (Novosibirsk) and Uralvneshtorgbank (Yekaterinburg). The Bank’s regional network included 267 branches in Siberia, Urals and Russian Far East, as of October 1, 2007. Major shareholders: Igor Kim 35.5%; international financial institutions over 28% (EBRD – 17.6%; DEG – 6.4%; Clariden Bank – 4.2%).

Outstanding issues:
7 issue(s) outstanding worth RUR 32 760 650 000
3 issue(s) outstanding worth USD 510 900 000
1 issue(s) outstanding worth HUF 4 500 000 000
2 issue(s) outstanding worth EURO 700 000 000

Cbonds pages: URSA Bank

Issuer's rating:

Moody's	Ba3/Stable	Int. Scale (foreign curr)	05/04/2007
National Rating Agency	A+	National scale (Russia)
Rus-Rating	BB+/Stable	National scale (Russia)	04/23/2007