The loan, which carries an interest rate of LIBOR + 1%, was syndicated by banks from Western and Eastern Europe, Asia, and the United States. The loan managers are ABN AMRO Bank N.V., and Deutsche Bank AG.
"The bank will use a part of the credit, in the amount of $122.5 million, to redeem a syndicated loan received in July 2005," the press release said.
The bank said the deal was the largest syndicated loan raised by Russian Standard Bank on the international market.
Founded in 1999, Russian Standard Bank is on a list of the country's top thirty banks published by the Central Bank. The bank posted net profit of 4.8 billion rubles (about $177.7 million) in the first half of 2006, its assets totaled 155.5 billion rubles (about $5.7 billion) as of July 1, 2006, and its shareholder equity stood at 16.98 billion rubles (about $628 million).
