ZAO Raiffeisen posts $1bn loan

The Russian subsidiary of the Austrian bank Raiffeisenbank, ZAO Raiffeisenbank, has defied the liquidity crisis to arrange a $1 billion loan.

The facility, which pays 65bp over Libor, is the largest syndicated transaction for a Russian financial institution since liquidity dried up last summer.

The loan was originally intended to have a size of $850 million but was increased due to strong interest from international investors. The 11 syndicate organisers are The Bank of Tokyo Mitsubishi, Barclays

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