Sberbank signed a $1.2 billion loan after increasing the interest margin by 20 basis points due to "difficult market conditions," the bank said in a statement.
The three-year term loan pays 150 basis points more than the London interbank offered rate, the bank said. The cost will rise to 185 basis points once fees of 105 basis points are included, said a person familiar with the deal.
Barclays Capital acted as coordinator and payment agent, and was joined by Bank of Tokyo-Mitsubishi UFJ, BNP Paribas, Citigroup, HSBC Holdings, ING Groep, JPMorgan Chase and Goldman Sachs. Each of the lenders provided $150 million, the person said. The deal replaces a $1.2 billion facility that matured last month.
(Bloomberg)
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