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Sberbank may take $1.2 bln syndicated loan in September

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MOSCOW, August 29 (RIA Novosti) - Russia's largest bank Sberbank could take up to $1.2 billion of a three-year syndicated loan in September, a banking source said on Friday.

"If a mandate is issued on September 1-2, the [loan] syndication could start within a week," the source said.

According to him, the interest rate has already been discussed with 12 lead managers.

Sberbank last took a syndicated loan worth $750 million in December 2007, and has concluded three similar deals over the past three years.

Sberbank's CEO German Gref said in June his bank planned to borrow up to $5 billion from foreign banks in 2008.

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