MOSCOW, April 10 (RIA Novosti) - Uralsib Bank, a leading Russian regional bank, signed an agreement Monday to obtain a $212 syndicated loan, the bank's press office said.
Commerzbank, Raiffeisen Zentralbank, Standard Bank and Sumitomo Mitsui Banking Corporation Europe will syndicate a 12-month loan at LIBOR plus 0.9% p.a. More than 20 banks from various countries will lend the money to Uralsib Bank.
During the syndication process, the loan sum raised was 112% of the original amount, the press office said.
Uralsib intends to draw down the loan to finance foreign trade contracts of its corporate clients.
Uralsib Bank is on the Central Bank's list of Russia's top thirty banks in terms of assets. As of October 1, 2005, the bank had assets of 222 billion rubles (about $7.7 billion) and its shareholder equity was 20.4 billion rubles (about $713 million).
