CREDIT BANK OF MOSCOW repaid US $50 mln. Syndicated Loan


Credit Bank of Moscow announced today that it repaid the USD50mn Syndicated Loan signed on 24 September 2007 for 12 months at Libor+1.95%.

"Having repaid USD50mn Syndicated Loan we once again confirmed our status of the reliable international market borrower and at the same time gave a signal of our bank’s liquidity adequacy in the present toughening financial conditions", - said Mr. Andrey Butukhanov, CBM’s International Department Director.

It is appropriate to remind at this point that Credit Bank of Moscow raised USD50mn Syndicated Loan for the purpose of its clients’ import-export business funding. Standard Bank Plc and Commerzbank AG acted as Mandated Lead Arrangers of this deal. Banks from Austria, UK, Hungary, Germany, Italy, Netherlands, Poland, Portugal, Singapore and USA were involved into the transaction as the participants of different categories.