denotes premium content | Dec 1 2008 
News
posted 27 Aug 2008
Deal news
TransCreditBank scoops $185m for foreign trade
TransCreditBank, the commercial bank belonging to state-owned Russian Railways, has signed an 18-month, $185m senior unsecured bullet-term loan intended to finance the foreign trade of the Bank’s customers.
The deal, which was announced at the end of June, was put together by mandated leader arrangers BayernLB, Citibank, Commerzbank, Credit Suisse, Landesbank Baden-Wurttemberg, Landesbank Berlin and WestLB.
The sum was increased from $150m following oversubscription in syndication and pays a margin of 100 basis points over Libor.
TransCreditBank is rated ‘Ba1’ by Moody’s. The deal follows a $350m eurobond issue, also launched in June, priced at 9% and due in 2011. Bookrunners for the issue were Dresdner Kleinwort and JPMorgan.
