Raiffeisenbank acted as advisor to TRASSA Group on debt restructuring. The deal was structured as a RUB 15.8 bln syndicated loan facility, based on the sample documentation for syndicated loans (so called «Russian LMA»), and a series of bilateral transactions. Syndicated loan facility was signed on October 5, 2016 by ten Russian banks. Other banks outside the syndicate (comprising app. RUB 3.2 bln of debt) were restructured on a bilateral basis, however in line with the terms of the syndicate. Total amount of restructured debt obligations of the Group exceeded RUB 20 bln.
The syndicated loan is a two tranche facility with
Absolut Bank, Avtovazbank, BKF Bank, Bank ZENIT, Bank Credit Express, Otkritie Bank, Promsvyazbank, Raiffeisenbank, Tempbank and UniCredit Bank joined the syndicated loan. Raiffeisenbank acted as the Group’s restructuring advisor, mandated lead arranger of the deal, as well as facility agent and security agent.
Orrick (CIS) LLC acted as a legal advisor to the mandated lead arranger, KPMG acts as financial advisor on the transaction, and also KPMG was appointed to be the Group’s IFRS auditor.
Refinancing of the debt portfolio enables TRASSA Group to unify the terms of the financing, extend maturity of the portfolio and secure better conditions for the Group’s strategy implementation.
AO Raiffeisenbank is a subsidiary of Raiffeisen Bank International AG. Raiffeisenbank ranks 12th among the Russian banks in terms of assets, based on H1 2016 results (
Raiffeisen Bank International AG (RBI) regards both Austria, where it is a leading corporate and investment bank, as well as 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 14 markets. In total, more than 51,000 employees service 14.9 million customers through more than 2,600 business outlets, the great majority of which are located in CEE. Raiffeisen Bank International is a