RLPC-Eurasian Dev Bank seeks $125m syndicated loan - source
LONDON, June 5 (Reuters) - Eurasian Development Bank has mandated ING, RZB, SMBC and WestLB to arrange a $125 million, two-year syndicated loan, a banking source said on Thursday.
Syndication is expected to launch next week and the deal pays a margin of more than 150 basis points (bps) over LIBOR, the source added.
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 Quentin Bryar)
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