CDB participates in $3.13 billion syndicated loan to VTB for general corporate and debt refinancing purposes

On March 3, 2011, VTB — a Russian state-owned bank — signed a $3.13 billion syndicated loan agreement for debt refinancing and general corporate purposes. Participants in the loan syndicate included BNP Paribas, Barclays, Bank of America Merrill Lynch, BTMU, China Development Bank (CDB), Citi, Commerzbank, Crédit Agricole, Credit Suisse, Deutsche Bank, Goldman Sachs, ING, JP Morgan, Mizuho, Morgan Stanley, Royal Bank of Scotland, Société Générale, Sumitomo Mitsui Banking Corporation (SMBC), Wells Fargo. CDB’s estimated contribution to the loan syndicate is captured via Project ID#66823. The loan carried a 3-year maturity and an interest rate of LIBOR plus a 1.3% margin. The book runners and lead arrangers for the loan included Bank of America, Barclays, and Morgan Stanley. ING and SMBC co-ordinated the deal. BNP Paribas, Barclays, Bank of America Merrill Lynch, BTMU, China Development Bank, Citi, Commerzbank, Crédit Agricole, Credit Suisse, Deutsche Bank, Goldman Sachs, ING, JP Morgan, Mizuho, Morgan Stanley, Royal Bank of Scotland, Société Générale, SMBC and Wells Fargo were mandated lead arrangers.

Additional details

1. The exact size of CDB’s contribution is unknown. For the time being, AidData assumes that all 19 members of the lending syndicate contributed equally ($164,736,842) to the $3.13 billion loan. 2. AidData has estimated the all-in interest rate by adding 1.3% to average 6-month LIBOR in March 2011 (0.461%). 3. Some sources suggest that the proceeds of the loan were to be used by VTB to acquire an ownership stake in Bank of Moscow.

Number of official sources

4

Number of total sources

13