MDM Bank signed an agreement Friday on the attraction of a $500 mln syndicated loan for a term of 18 months at LIBOR + 0.9%, the lending institution said in a press release. The loan is to be syndicated by International Finance Corporation (IFC), Calyon, Commerzbank, DZ Bank, Emirates Bank, Erste Bank, ING Bank, Intesa Sanpaolo, Korea Development Bank, RZB, Sumitomo Mitsui Finance Dublin Limited and Wachovia Bank. Bookrunners are ING and RZB. In addition, IFC is also to give MDM Bank a $35 mln 4-year credit facility.
Last time MDM Bank took a syndicated loan in December 2007 ($250 mln for 12 months at LIBOR + 0.6%).
MDM Bank’s beneficial owner is Sergey Popov (76.95%). Other beneficiaries are Martin Andersson (8.55%) and investment company Olivant Limited (9.5%) that was founded by former head of UBS and Abbey National Arnold Lukman. Olivant also holds an option to buy an additional 4.75% stake in the lending institution. IFC bought into MDM Bank last September, spending $185 mln on a 5% equity stake.
In Q108, MDM Bank ranked 13th in terms of assets in the Interfax-100 ranking, prepared by Interfax-CEA. |
