The International Investment Bank (IIB) is pleased to announce the signing of its debut syndicated term loan facility for EUR 60 million.

ING Bank N.V., PJSC ROSBANK, Raiffeisen Bank International AG, VTB Bank (Deutschland) AG and OTP Bank Plc. acted as Mandated Lead Arrangers for the Facility. Bulgarian Development Bank AD and Sberbank Europe AG joined as Lead Arrangers and International Asset Bank AD joined as an Arranger.

ING Bank N.V. acted as Coordinator/Documentation Agent of the Facility and will act as Facility Agent.

The Facility is unsecured and has been signed on a club basis. It has a tenor of 2 years with bullet repayment and carries a margin of 175 basis points over EURIBOR. The Facility will be used to support IIB’s further business development in its member states. The transaction was significantly oversubscribed after having received a positive reception from the market.

The success of this inaugural transaction highlights the important relationships IIB enjoys with financial institutions around the world. As stated by Nikolay Kosov, Chairman of the IIB Board, “our first ever syndicated loan facility will expand our capacity to support development of our member states’ economies and international economic integration, in line with our mission as an interregional development bank.”

“The oversubscription of the deal indicates high interest of investors towards our institution and its sound position. I would like to thank our partners, who have made this transaction happen and thus have supported our continuous dynamic growth in the interest of our member countries”, – added Denis Ivanov, Deputy Chairman of the IIB Board, who is responsible for coordinating relations with financial institutions and IIB’s funding, among other areas.