Raiffeisen Bank Aval Plans USD 150 Million Syndicated Loan

15. März 2007, 00:00

Ukraines Raiffeisen Bank Aval, unveiled plans to draw a two-year syndicated loan

Ukraines Raiffeisen Bank Aval, unveiled plans to draw a two-year syndicated loan. Proceeds, estimated at USD 150 million, will be funneled into loan portfolio development and trade-related transactions.

BayernLB, DZ Bank AG, HSBC Bank Plc and Standard Bank Plc have been tipped to arrange the facility, the bank said in a press release on Tuesday. Syndication started on March 12 this year.

The loan, the first with two-year term on a Ukrainian banks account, will be Raiffeisen Bank Avals maiden since acquisition by Austrias Raiffeisen International Bank Holding AG (RI).

Raiffeisen Bank Aval has been in existence since 1992. Its majority owner since January 1 this year is RI with 95.54-per-cent shareholding. Raiffeisen Zentralbank Oesterreich AG, the parent company of RI, owns 0.19 per cent.

As of January 1 this year, Raiffeisen Bank Aval was the countrys second-largest bank, data of Ukraines central bank shows. Raiffeisen was 17th on the Interfax-1000 list of the biggest banks in the CIS in terms of assets at the end of 2005.

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