Bank Forum Attracts USD 115 mln Syndicated Loan
23 April 2008
Bank Forum (FORM: BUY) said yesterday that it has attracted a three-year USD 115 mln syndicated loan at LIBOR+1.6%. The credit facility was organized by BayernLB, Fortis and Raiffeisen Zentralbank. The loan was oversubscribed from the initial USD 75 mln the bank planned to draw in 2Q08. Alexander Viktorov: Since Commerzbank’s arrival, the bank has been active in attracting more and cheaper foreign debt: Forum’s cost of borrowing dropped from 7.95% (LIBOR+2.75%) in March 2007 to 4.2% with the attraction of this loan.
