Orient Express Bank has attracted Syndicated Loan

2007.10.18

Open Joint Stock Company “Orient Express Bank” has attracted Syndicated Loan of US$10,000,000 for a term of 364 days. This fund’s rate consists of LIBOR + 2 per cent per annum.

Standard Bank Plc is the Agent of the Loan and WestLB AG London Branch and CJSC International Moscow Bank are Mandated Lead Arrangers.

The Bank is going to use the Loan for intranet purposes.

Orient Express Bank approves that transparency of its activity and quite understandable model of its business running are the factors that give an opportunity for Russian Banks to attract international market resources even in conditions of limited liquidity.

This is the 5th successful Bank’s appearance on the international loan market for last 1.5 year.