The debt facility for Latvia's Hipoteku uz zemes banka (Mortgage and Land Bank of Latvia) has signed, increased to EUR177.5m after launching at EUR100m. MLAs and books are Barclays, DZ Bank, Intesa Sanpolo and Standard Bank (facility agent). Prior to launch, Depfa Bank and Dexia Kommunalkredit Bank Polska joined as MLAs. Additional MLAs are BayernLB, Helaba and LB Baden-Wuerrtemberg. Arranger is PKO BP. Senior lead manager is Erste Bank. Lead managers are Agricultural Bank of Greece, Landwirtschaftliche Rentenbank and Zuercher Kantonalbank. Tenor is three years, margin E+20bp. Bullet repayment. Four levels of participation were on offer to banks: Arranger = EUR12.5m Co-arranger: EUR10m Senior lead manager: EUR7.5m Lead manager: EUR5m The borrower will use the loan to support its growth and to broaden its investor base. The bank's last syndicated loan was a EUR166.5m debt facility via MLAs RZB and WestLB. That three-year deal paid a margin of E+20bp.
Hipoteku banka signed EUR 177.5 mln Syndicated Term Loan Facility Agreement
| Source: Latvijas Hipoteku un zemes banka