Mandated lead arrangers Bank Austria Creditanstalt (bookrunner), Citibank (bookrunner), Erste Bank (info memo) and RZB (facility, documentation, signing agent) have completed the syndication of a five-year syndicated term loan facility for Banca Comerciala Romana (BCR).
The transaction was very well received by investors. The syndication was closed with more than US$200mn raised from the market. The mandated lead arrangers had to scale back the commitments to US$200mn.
The loan is for general financing purposes with a margin of 2% per year.
Depfa Investment Bank Ltd was a lead arranger. Alpha Bank, Bayerische Hypo- und Vereinsbank, BNP-Paribas Hung ria Bank, Commerzbank International, Dresdner Bank, GarantiBank International, Natexis Banques Populaires, National Savings and Commercial Bank, and Wachovia Bank were arrangers. Baden-Wurttembergische Bank, Magyar Kulkereskedelmi Bank, Norddeutsche Landesbank Girozentrale, and The Arab Investment Company were lead managers. Bank fur Arbeit und Wirtschaft, MISR Romanian Bank, and Vereins- und Westbank were managers.
BCR, established in 1990, is the leading bank in Romania, enjoying a good asset and customer base, having a B+/positive and B1/NP/D- with S&P and Moody’s respectively. The bank operates as a full universal commercial bank having a very good franchise, a comprehensive nationwide office network, consisting of 291 branches and agencies. BCR has over 4mn customers.
