FINMARKET. Eurokommerz has increased by 50% the amount of its debut ruble-denominated syndicated loan. Earlier the announced minimal sum of the loan (Rub 2.3 bln) was raised to Rub 3.45 bln ($150 mln), the lending institution said in a press release. The loan is to be provided for a term of 12 months at MosPrime + 6.5% with a 12-month prolongation option. Along with Alfa Bank and Commerzbank (Eurasia), Rosbank was also among the loan arrangers.
Earlier the company floated 4 bonded loans for a total of Rub 12 bln, took a loan in the form of Credit Linked Notes (CLNs) for Rub 5 bln and also transacted a first deal in Russia and East Europe to securitize short-term loans for Rub 12.5 bln.
Eurokommerz is the leader on the Russian factoring market. The lending institution’s shareholders are management and investment company Troika Dailog, represented by investment fund Russia New Growth Fund, whose investors are the European Bank for Reconstruction and Development (EBRD), Temasek Holdings, Goldman Sachs, LGT Group and AXA. The company is a member of international factoring association International Factors Group. In June 2008, Eurokommerz became the first Russian member of Commercial Finance Association (CFA).
