A group of banks have closed a $154 million trade-related refinancing on behalf of First Ukrainian International Bank (Trade Finance, breaking news, 09/07/08).
Bayerische Landesbank, Landesbank Berlin, RZB, Standard Bank and UniCredit Group are bookrunners on the one-year deal which pays a margin of 195 basis points over Libor.
Launched at $100 million, the loan has been oversubscribed by over 50% with several banks joining in the closing days of the syndication.
A source tells Trade Finance: "There was a strong presence of relationship banks which helped the transaction succeed. The borrower will definitely take any subscription that occurs."
