EEMEA market round up: Alfa scores important first
Alfa Bank has become the first privately owned Russian bank to raise overseas funding in the post-credit crunch era.
The 12-month club facility totalled $307 million and attracted contributions from 21 foreign banks. The loan, Alfa’s 12th in the international syndicated loan markets, was priced at 60 basis points over Libor. "It is especially pleasant to note that the loan, despite the difficult global liquidity situation, was larger than last year’s club facility of $220 million," says Maxim Topper, head of international banking and financial institutions at the bank.