RLPC-Eurasian Dev Bank ups loan to $300 mln - source

LONDON, July 18 (Reuters) - Eurasian Development Bank has increased its two-year syndicated loan to $300 million from $125 million after the deal closed oversubscribed via mandated lead arrangers ING, RZB, SMBC and WestLB, a banking source said on Friday.

Signing will take place on August 1.

The deal pays a margin of 100 basis points (bps) over LIBOR, the source added, and pays an all-in fee to investors of more than 150 bps.

Proceeds will be used to finance infrastructure projects in Russia and Kazakhstan.

Almaty-based Eurasian Development Bank's previous loan was a 400 million, 364-day term loan that signed in December 2007. That deal paid a margin of 60 bps over LIBOR.

The borrower was set up by Russia and Kazkahstan in 2006 and has a capitalisation of $1.4 billion.

The bank is rated BBB+ by Fitch and Standard and Poor's, and A3 by Moody's.

(Reporting by Christopher Mangham; Editing by David Cowell)