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05.08.11

Russia’s Raiffeisenbank: the terms of the club-loan issued to the Energoprom Group have changed

Raiffeisenbank has entered into an agreement with the Energoprom Group modifying the terms of the previously issued club-deal loan amounting to USD 86 million.

Under the new agreement, the parties have agreed to extend the loan period to five years, prolong the grace period to two years and lower the interest rates for all foreign currency loans.

The multi-currency club-deal loan was issued to the Energoprom Group in 2010 for operational purposes and for refinancing the loan portfolio of its business assets. The deal consists of two parallel multi-currency lines of credit provided to ENERGOPROM — Novosibirsk Electrode Plant and ENERGOPROM — Novocherkassk Electrode Plant on equal terms.

The loans are structured in the form of pre-export financing and are backed by guarantees of payment from the companies of the Group, earnings and fixed assets. The interest rate on the foreign currency tranches is tied to Libor/Euribor, and on the rouble tranches to Mosprime.

In addition to Raiffeisenbank, which coordinated the preparation and signing of the agreement, the consortium of lenders includes Rosbank, ING Bank (Eurasia) and UniCredit Bank.


ZAO Raiffeisenbank is a subsidiary of Raiffeisen Bank International AG. Raiffeisenbank ranks 9th among the Russian banks in terms of assets, based on H1 2011 results (Interfax-CEA). According to the same Interfax-CEA data, ZAO Raiffeisenbank ranked 5th in terms of private deposits and 7th with regard to consumer lending.

Raiffeisen Bank International AG regards both Austria, where it is a leading corporate and investment bank, and Central and Eastern Europe (CEE) as its home market. In CEE, RBI operates an extensive network of subsidiary banks, leasing companies and a range of other specialised financial service providers in 17 markets. Around 60,000 employees service about 14 million customers through around 3,000 business outlets, the great majority of which are located in CEE. RBI is the only Austrian bank with a presence in both the world’s financial centres and in Asia, the group’s further geographical area of focus. Raiffeisen Bank International is a fully-consolidated subsidiary of Raiffeisen Zentralbank Oesterreich AG (RZB). RZB indirectly owns around 78.5 per cent of the common stock, which is listed on the Vienna Stock Exchange; the remainder is in free float. RZB is the central institution of the Austrian Raiffeisen Banking Group, the country’s largest banking group, and serves as the group head office of the entire RZB Group, including RBI.

 

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