Limited Liability Company“News Outdoor Rus”
US$300,000,000Syndicated Term Loan Facility
- Banks have signed into the US$300,000,000 Syndicated Term LoanFacility for Limited Liability Company“News Outdoor Rus”
-Transaction was oversubscribed but not increased
- The financing isthe largest ever raised for a Russian advertising company
The Initial Mandated Lead Arrangers and Underwriters, CommerzbankAktiengesellschaft (“CB”), Raiffeisen Zentralbank Osterreich AG (“RZB”) and ZAO Raiffeisenbank Austria (together “RZB Group”) have successfully completed a US$300,000,000 Syndicated Term Loan Facility for Limited Liability Company “News Outdoor Rus”. Banks signed into the Facility on 28 November 2006. RZB acted also as Bookrunner and Facility Agent.
The transaction was well received by the investors and the Facility wasoversubscribed.
This financing represents the largest ever syndicated transaction raisedfor a Russian advertising company, demonstrating the investors? growingappetite outside Russia’s energy and commodities sector.
The transaction has two parts: US$ 145,000,000 Tranche to refinance theloan of the Borrower with the European Bank for Reconstruction andDevelopment (“EBRD”) and US$155,000,000 Tranche to finance a part of the
acquisition programme of the Borrower, for capital expenditures and
general corporate purposes.
Amount US$300 million
Tenor 5 years
RepaymentSemi-annual instalment starting 2 years after Signing
>=1.25 and 2.00
>= 2.00 and 2.50
>=2.50 and = 3.50
Commerzbank Aktiengesellschaft Initial MLA
RZB Group Initial MLA
StandardBank Plc MLA
Closed Joint Stock Company"CALYON RUSBANK Corporate andInvestment Bank” Lead Arranger
Closed Joint Stock InternationalMoscow Bank Arranger
Raiffeisenlandesbank OberosterreichAktiengesellschaft Arranger
Banca Intesa SpA/Closed Joint StockCompany ZAO"Banca Intesa" Arranger
VTB Bank (France) SALead Manager
BNP PARIBAS Lead Manager
Citigroup Lead Manager
IKBDeutsche Industriebank AG Lead Manager
INVESTKREDIT BANK AG LeadManager
Nova Ljubljanska banka d.d., Ljubljana Lead Manager
RAIFFEISENLANDESBANKNIEDEROSTERREICH-WIEN AG Lead Manager
Raiffeisen-LandesbankSteiermark AG Manager
About News Outdoor Rus
News Outdoor Rus, a limited liability partnership organized in theRussian Federation in 1995, is ultimately owned and controlled by theinternational media company News Corporation of which Rupert Murdoch isPresident and CEO.
News Outdoor Rus is the largest“out-of-home” advertising media operator in Russia offering billboards, street furniture (e.g. bus shelters), transit, airport and point-of-sale advertising.
Raiffeisenbank is ranked 9th in terms of assets among top Russian banksbased on Q3 2006 results (CEA Interfax). At present the Bank disposes of20 branches in Moscow, 5 branches in Saint Petersburg and regionalbranches in Ekaterinburg, Samara, Novosibirsk, Chelyabinsk, NizhnyNovgorod, Krasnodar, Krasnoyarsk and Perm. Among the leading retailbanks Raiffeisenbank is the 8th largest bank in Russia in terms ofconsumer lending and 8th in terms of private deposits based on Q3 2006results (CEA Interfax).
In 2005-2006 ZAO Raiffeisenbank Austria acted as Mandated Lead Arrangerfor Russian Borrows on the markets of retail trade, energy sector,metallurgy, real estate, telecommunications and banking services for atotal of over USD 5,9 bln.
ZAO Raiffeisenbank Austria is a subsidiary of Raiffeisen InternationalBank-Holding AG which operates one of the leading banking networks inCEE with subsidiary banks and leasing companies in 16 markets. More than11.7 million customers are attended to through more than 2,775 businessoutlets. In eight markets, the respective Network Bank ranks among thethree largest local banks. Representative offices in Lithuania andMoldova complement the Group''s presence in the region. RaiffeisenInternational is a fully consolidated subsidiary of RaiffeisenZentralbank Osterreich AG (RZB), which owns 70 per cent of the commonstock. The remaining 30 per cent is free float, the shares are traded onthe Vienna Stock Exchange. RZB is a leading corporate and investmentbank in Austria and the central institution of the Austrian RaiffeisenBanking Group, the country''s largest banking group.