Sibakadembank’s small - and medium-sized loan programme gets large cash injection
Sibakadembank has raised a syndicated loan for the bank’s small and medium-sized business loan programme, totalling more than US$40 m, the bank has announced. The bank also claim it will be used for retail credits. The loan will be extended in two tranches of EUR2 m and US$38 m. It is for a twelve month term but can be extended for the same timeframe. The rate is LIBOR/EURIBOR + 3.5 per cent. Raiffeisen Austria (Russia), Raiffeisen Zentralbank Oesterreich AG (Austria) and the International Moscow Bank undertook the co-ordination of the loan. The syndicate includes 24 banks from Eastern and Western Europe, Asia and the United States. Source: Interfax
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