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| Priorbank drawn a USD 100 mln. loan |
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Priorbank JSC, the largest commercial bank of the Republic of Belarus, took out a loan to the amount of USD 100 million. Credit agreement was signed with VTB Bank Europe, Great Britain, on June 29, 2007.
The 2-year credit resources were granted under the margin 3,125 % per annum. The joint arranger and bookrunner of the loan is RZB, Austria. Road-shows within this deal were held in London, Frankfurt-on-Main and Vienna. The attracted resources will be used to finance real economy sectors as well as to refinance the earlier given loans.
“This deal is of high importance not only for Priorbank, but for the whole Belarusian banking system, as it defines benchmark for price and terms, which happen to be record for the Belarusian financial market. Being on the threshold of receiving country’s credit rating the deal can be considered as the first step to issue of eurobonds by Belarusian issuers”, - Sergey Kostyuchenko, Priorbank’s CEO, commented on this event.
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Priorbank, JSC – member of RZB-Group and a subsidiary of Raiffeisen International Bank-Holding AG (Raiffeisen International). Raiffeisen International is fully consolidated subsidiary of Vienna-based Raiffeisen Zentralbank Austria AG (RZB). RZB holds 70 per cent of Raiffeisen International's shares, the balance is free-float and traded on the Vienna Stock Exchange.
Prirobank, JSC was founded in January, 1989. The major shareholders of the bank are Raiffeisen International /63,05% and European Bank for Reconstruction and Development /13,5 %/.
According to «The Banker» magazine Priorbank became The Bank of the Year in Belarus as of 2003, 2004 and 2005. «Global Finance» named Priorbank the Best Bank of Belarus and the Best Foreign Exchange Bank in Belarus in 2004 and 2005. «Euromoney» magazine awarded Priorbank the Best Bank in Belarus 2005 and 2006. The European Bank for Reconstruction and Development within its Trade Facilitation Programme granted Priorbank to be «Most active Trade Finance Bank in Belarus in 2006».
Public Relations
Priorbank JSC
tel. + 375 17 289 90 58
www.priorbank.by
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