BELARUS NEWS AND ANALYSIS

DATE:

17/08/2006

Vneshtorgbank, Moscow Narodny Bank Limited and Gazprombank Arrange Syndicated Loan Facility for Belgazprombank

MOSCOW (RNWire) - Vneshtorgbank, Moscow Narodny Bank Limited and JSB Gazprombank (CJSC) acting as Mandated Lead Arrangers and Bookrunners have launched a US$ 10 million / EURO 5 million syndicated term facility for Belgazprombank, Minsk.

The loan carries a margin of 3.75 % p.a. above LIBOR and has tenure of 364 days with an extension option for a further 364 days.

This is the second syndication of the Bank in the international financial markets. In 2005 Belgazprombank raised a US$ 15 million syndicated term loan facility from European banks.

Belgazprombank (BGPB) was established in 1990 and is among the country's 10 top banks in terms of assets and shareholders' equity (67.82% of BGPB's shares are held by JSC Gazrpom and JSB Gazprombank (CJSC).

Belgazprombank is a universal commercial bank. With its status as an authorised bank of JSC Gazprom, it benefits from effecting transactions for natural gas supplied by JSC Gazprom to the Belarusian market.

Since 1994 BGPB has cooperated with international financial institutions. Belgazprombank was accredited by EBRD to participate in its programme aimed at supporting small and medium-size enterprises in the Republic of Belarus. Active cooperation with EBRD and IFC allows the Bank to provide its customers with comprehensive loan products within credit lines from these international institutions.

In 2005, Fitch Ratings Agency assigned the long-term rating "B-"to Belgazprombank, with a "Stable" Outlook.

Source:

http://www.russianewswire.com/releases_headlines_details.php?id=3612