JSC “NORVIK BANKA” has signed a syndicated loan facility agreement for 28.5 million euros. Standard Bank Plc (UK) acted as the facility agent and Mandated Lead Arranger, Commerzbank Aktiengesellschaft (Germany) was the publicity agent and Mandated Lead Arranger.
Kaupthing Bank, the biggest Icelandic bank, also participates as the transaction Lead Arranger. Raiffeisen Zentralbank (Austria) and FBN Bank (UK) are other arrangers, AKA Ausfuhkredit (Germany), Bank of Taiwan (Taiwan), Dresdner Bank (Germany), Raiffeisen-Landesbank Steiermark AG (Austria) - co-arrangers, Israel Discount Bank (USA), SaarLB (Germany), SID Bank (Slovenia) - Lead Managers. This is the third syndicated loan successfully raised by NORVIK BANKA during one year. All three syndicated transactions were oversubscribed.
The syndicated loan period is 12 months with extension option for another 12 months upon maturity. The loan interest rate is EURIBOR+0.70%.
Andrejs Svirčenkovs, Chairman of the Management Board commented that the loan will be used for further Bank’s positions strengthening, it will provide increased capacities in customer service development.