MOSCOW, November 28 (RIA Novosti) - Uralsib, a major Russian regional bank, has signed a $263 million syndicated loan agreement, the bank's press office said Monday.
"The loan has a one-year maturity and carries an interest rate of 1.5% above LIBOR. During the syndication procedure, the loan sum was increased by 75% from the initial amount," the press office said.
A total of 32 banks from 18 countries participated in the syndication effort.
"The funds will be used to finance foreign trade operations of its clients in the Russian regions," the bank said.
Uralsib bank is on the list of Russia's top thirty banks published by the Central Bank. The bank's assets totaled about 222 billion rubles (about $7.7 billion) and its shareholder equity equaled 20.4 billion rubles (about $713 million) as of October 1, 2005.
