MOSCOW, June 14 (RIA Novosti) - Absolut Bank has signed a deal to take out a $35-mln syndicated loan, the bank's press office said Wednesday.
Absolut Bank, a medium-sized private bank focusing on corporate and retail banking, financial markets and asset management, said the 364-day loan had been syndicated by Commerzbank AG, Raiffeisen Zentralbank Oesterreich AG and Raiffeisen Bank Austria.
During the syndication effort, the loan amount was increased 40% to $35 million. The loan carries an interest rate of Libor + 2.65% p.a.
Founded in 1993, Absolut Bank, which has total assets of $505.5 mln, mainly caters to medium-sized and small companies in the Moscow and St. Petersburg regions. After an additional stock issue in May this year, the bank's shareholder equity topped $170 million.
