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Sberbank to take $1.2 billion syndicated loan

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MOSCOW, October 3 (RIA Novosti) - Russia's largest state-owned bank Sberbank has signed a contract to take a $1.2 billion syndicated loan for three years, the bank said on Friday.

The facility has been attracted at LIBOR+0.85% and will be repaid at the end of the term.

The facility involved 15 financial institutions from Europe, North America and Japan, including ABN AMRO, Barclays Capital, and Deutsche Bank (London Branch).

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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