The FINANCIAL — BSTDB raised USD 325 million and EUR 20 million through a syndicated loan facility signed on 18th September 2008. The facility will be used for funding the Bank’s activity in the countries of the Black Sea region.
Bayerische Landesbank (“BayernLB”), Emirates NBD PJSC (“Emirates NBD”), Intesa Sanpaolo S.p.A. (“ISP”) and Sumitomo Mitsui Banking Corporation Europe Limited (“SMBCE”) acted as lead arrangers for the facility.
Despite difficult market conditions, the Facility was extremely well received, achieving an impressive oversubscription of 261% over its launch amount and closing at USD 325,000,000 with participation from 31 banks from across the globe.
“It is the biggest amount we have raised so far”, stated Hayrettin Kaplan, BSTDB President, adding that “we are happy to see the growing support that we receive from the European banking market, for our operations in the Black Sea region, with banks from the Middle and Far East also participating in the syndication”.
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