The ZAO Raiffeisenbank was the main organizer and Agent of a credit agreement for the issue of a syndicated loan of USD 50 million to the OOO GasOilTrade so as to refinance the Gasoil Plaza. Amsterdam Trade Bank N. V. was also one of the main organizers, and Societe Generale Vostok Bank and the Bank of Cyprus Public Company Limited.
The loan term is 5 years from the date from which the credit agreement was made, at a rate of LIBOR + 6.4%. The borrower will use the loan to refinance the credit portfolio and fund current projects of the Group.
Gasoil Plaza is a class A business centre with an approximate area of 35,904.8 sq.m. It is located on 12a Nametkina street, Moscow
«This was a landmark deal for the Tashir Group, with whom we have successfully cooperated for several years. In the process of syndication we observed the high level of interest of the investors, which reflects the high quality of the borrower, taken the limited liquidity in the development industry and the unstable financial markets», commented Pavel Gurin, the deputy CEO of the ZAO Raiffeisenbank.
«This deal very much demonstrates the new level of activity on the financial market within the preparation for the IPO», said Vitaly Efimkin, the vice-president of GK Tashir. «Our cooperation with Raiffeisenbank was very successful, and in the future we plan to invite the bank to organize the refinancing of our other major commercial real estate sites».
ZAO Raiffeisenbank is a subsidiary of Raiffeisen International Bank-Holding AG. Raiffeisenbank is the largest foreign-owned bank in Russia, ranking 7th in terms of assets among top Russian banks based on 1H 2008 results (Interfax-CEA). According to Interfax-CEA, ZAO Raiffeisenbank ranked 5th in Russia in terms of private deposits and 6th in consumer lending in Russia based on 1H 2008 results.
Raiffeisen International operates one of the largest banking networks in CEE. 17 markets of Europe’s growth region are covered by subsidiary banks, finance leasing companies and a number of other financial service providers. Over 14 million customers are attended to through more than 3,000 business outlets. Raiffeisen International is a fully consolidated subsidiary of Raiffeisen Zentralbank Osterreich AG (RZB), which owns 68.5 per cent of the common stock. The balance is free float, the shares are traded on the Vienna Stock Exchange. RZB is a leading corporate and investment bank in Austria and the central institution of the Austrian Raiffeisen Banking Group, the country’s largest banking group.