ICBC contributes to $500 million syndicated loan to Credit Bank of Moscow in 2017 for unspecified purposes (Linked to Record ID#92449)

Project narrative

In March 2017, Credit Bank of Moscow — the third largest privately-owned commercial bank in Russia — signed a $500 million syndicated loan agreement with 13 banks from 11 countries (including Harbin Bank and the Industrial and Commercial Bank of China). The loan carried a 1-year (364 day) maturity and the borrower was expected to use the proceeds of the loan for general corporation purposes. The interest rate of the loan is unknown. However, it was reported ‘the lowest rate the [Credit Bank of Moscow] has ever had for similar financings.’ CITIBANK N.A., London Branch, OOO HSBC BANK (RR), ING BANK N.V., RAIFFEISEN BANK INTERNATIONAL AG, PJSC ROSBANK, COMMERZBANK AG and AO UNICREDIT BANK acted as Mandated Lead Arrangers and Bookrunners. They were joined by ICBC (Joint-Stock Company), HARBIN BANK CO., LTD. and J.P. MORGAN LIMITED as Lead Arrangers, and CREDIT SUISSE (SWITZERLAND) LTD. and LANDESBANK BADEN-WÜRTTEMBERG as Arrangers. ING BANK N.V. acted as Coordinator and Documentation Agent and ING BANK N.V., London Branch acted as Facility Agent. ICBC's contribution to the syndicated loan is captured in Record ID#89460. Harbin Bank's contribution to the syndicated loan is captured in Record ID#92449.