Urals-Siberian Bank of Bashkiria to Borrow USD 20 Million from Austria's Raiffaisenbank

The Ural-Siberian Bank (Uralsib) of Bashkiria has signed a loan agreement with the Austrian Raiffaisenbank for USD 20 million. This is according to the Bashkirian bank's PR department. The initial term of the loan is a year minus one day followed by a lump-sum repayment. The creditor has secured the option of extending the agreement for another term of the same length. The loan is granted at the 3.5% APR.

In June 1997, the Uralsib signed an agreement with the Midland Bank of the HSBS group for the placing USD 25 million worth of its exchange bills on European financial markets. In 1998, a USD 25 million syndicated loan was taken out. It had been underwritten by Deutsche Bank AG and was repaid a year later. Late in 2001, a loan agreement for a year-minus-one-day USD 20 million unsecured syndicated loan from a number of European banks. The loan was underwritten by Dresdner Kleinwort. This was the first unsecured loan issued to a Russia's bank after the 1998 financial crisis.

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