The $180m loan for independent television company CTC Media is to be signed today (Friday). ABN Amro, BNP Paribas, ING and RZB are mandated lead arrangers and bookrunners. The deal has a two year tenor, with a 12 month extension option, and pays a margin of 300bp over Libor.
Proceeds back the borrower’s acquisition of DTV Group, another Russian broadcaster, for $395m.
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Signing of the loan for the Moscow Electricity Grid, Moesk, has been put off until next week after another bank came into the deal at the last minute. The facility was launched at $300m, and was already oversubscribed and had been set to be increased to $360m with signing on Wednesday. After the last minute addition the borrower is seeking a further increase.
Barclays Capital, BNP Paribas and ING are bookrunners, while WestLB is a mandated lead arranger. The two year deal pays a margin of 250bp over Libor.
Proceeds will refinance the company’s 2008 investment programme, and the facility will be launched into syndication shortly.
Russia’s United Energy Systems is the majority shareholder in Moesk, while the City of Moscow and state owned oil and gas company Gazprom also have stakes in the company.
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The loan for VTB Bank was signed this week at $1.4bn, after the deal was oversubscribed during syndication.
Bank of Tokyo-Mitsubishi UFJ, Barclays Capital, BayernLB, BNP Paribas, Citibank, Deutsche Bank, Intesa Sanpaolo, JP Morgan, Mizuho and SMBC were mandated lead arrangers and bookrunners. Two banks joined as senior lead arrangers, seven as lead arrangers, six as lead managers and nine as managers.
The facility is split between a three year tranche and an 18 month piece, which carry margins of 65bp and 60bp over Libor respectively.
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