RLPC-Russian Vnesheconombank seeks $1 bln loan-bankers
LONDON, July 3 (Reuters) - Russia's state-owned Vnesheconombank (VEB) is looking to secure a syndicated loan worth up to $1 billion and has invited banks to submit proposals for the deal, banking sources said on Friday.
So far this year, no Russian bank has tapped the international loan market, though bankers have told Reuters Loan Pricing Corp that MDM and Bank of Moscow (MMBM.MM: Quote, Profile, Research) are looking for smaller loans. [ID:nL81006133] [ID:nL7174343].
VEB's last loan was a 335 million euro ($469.6 million), three-year club deal signed in October 2008, which paid margin of 75 basis points (bps) over EURIBOR.
Prior to that, VEB signed an $800 million, three-year term loan in July 2006 that paid a margin of 35 bps over LIBOR.
(Reporting by Christopher Mangham)
© Thomson Reuters 2009 All rights reserved
Dubai Debt Fears
Banks outside the Gulf played down their exposure to Dubai debt, after fears the emirate could default and even derail world economic recovery prompted a sell-off in global markets. Full Article | Slideshow
One Year Later
Mumbai held tearful memorials and police staged a show of strength as it marked the first anniversary of militant raids that killed 166 people and pushed up tensions with Pakistan. Slideshow | Full Coverage
