PAREX BANK RAISES €275 SYNDICATED LOAN

Today Parex banka successfully closed a Syndicated Term Loan Facility of EUR 275 million, at a margin of 0.55% over EURIBOR, with an initial maturity date of 364 days. This syndicated loan attracted great interest from international investors and was oversubscribed.

Raiffeisen Zentralbank Österreich Aktiengesellchaft, HSBC Bank Plc., Mizuho Corporate Bank, Ltd. and Sumitomo Mitsui Banking Corporation were the initial mandated lead arrangers of the transaction. The loan was subscribed by 37 financial institutions from 15 countries; 38% or 105 million euros of the funds raised came from Asian investors, while 62% or EUR 170 million was generated by investors from other regions (Europe and North America). The loan attracted six new investors with a total investment of EUR 42.5 million or 15 % of total funds.

Mr. Martins Jaunarajs, CFA, Senior Vice President, Capital Markets and Investment Banking, commented: "At this time of challenging market conditions we are delighted that, with the support of the initial mandated lead arrangers, we achieved such a strong oversubscription. We are also very grateful for investor's trust in the Bank's professional team. The success of this transaction once again shows the confidence of the international banking community in Parex banka and its activities in the Baltic financial market."

Mr. John Starling, Managing Director, CEEMEA Debt Capital Markets, HSBC Bank plc, said: "The success of this transaction executed in challenging market conditions is a testament of the confidence, which the market is vesting in the management and the strong financial performance of Parex banka."


Over the past ten years Parex banka has been an active borrower in the syndicated loan market, establishing a strong reputation and credibility in international markets.

List of the participating banks:

Initial Mandated Lead Arrangers

HSBC Bank plc.
Mizuho Corporate Bank, Ltd.
Sumitomo Mitsui Banking Corporation
RAIFFEISEN ZENTRALBANK ÖSTERREICH AKTIENGESELLSCHAFT

Mandated Lead Arrangers

Taiwan Cooperative Bank, Offshore Banking Branch
Landesbank Baden-Württemberg, London Branch
DZ BANK AG
Dresdner Kleinwort
Bank of Taiwan London Branch
Bank of Baroda

Lead Arrangers

BayernLB
Erste Bank
Landesbank Berlin AG
Raiffeisenverband Salzburg
Raiffeisenlandesbank Oberösterreich Aktiengesellschaft

Arrangers

BMO CAPITAL MARKETS
Land Bank of Taiwan, Offshore Banking Branch
WGZ Bank AG Westdeutsche Genossenschafts-Zentralbank

Senior Lead Managers

Agricultural Bank of Greece SA
COMMERZBANK Aktiengesellschaft
HYPO ALPE-ADRIA-BANK INTERNATIONAL AG

Managers

Taiwan Business Bank, Hong Kong Branch
Taiwan Business Bank, Offshore Banking Branch
Agricultural Bank of China, Hong Kong Branch
Cathay United Bank
Chang Hwa Commercial Bank Limited. London Branch
The Export-Import Bank of the Republic of China
AKA Ausfuhrkredit - Gesellschaft m.b.H.
BANCO POPULAR ESPAÑOL, S.A.
Bank Austria Creditanstalt (Member of UniCredit Group)
Bank of Kaohsiung, Offshore Banking Branch
BANQUE BIA
BRE Bank SA
Caixa Geral de Depósitos, S.A.
Landesbank Saar
NATIONAL BANK OF EGYPT (UK) LIMITED
RAIFFEISENLANDESBANK NIEDEROESTERREICH-WIEN AG
Sparebanken Øst



About the Bank:

Parex banka is one of the most steadily growing Latvian commercial banks with assets exceeding EUR 4.5 billion. The Bank offers its clients integrated services in such areas as credit services, payment cards, leasing, asset management and trading with securities. More than 2,600 people are currently employed at the Bank and its branches. Parex banka has representative offices, branches and subsidiaries in 15 countries, including branches in Berlin, Hamburg, Stockholm, Malmo, Tallin and Narva, a subsidiary bank AP Anlage und Privatbank AG in Switzerland and Parex Bankas in Lithuania. Parex banka is the only business partner of American Express in Latvia and Lithuania with exclusive rights to issue American Express credit cards. Parex banka is assigned the following international ratings: Moody's Investors Service - Baa3 (investment grade), Fitch Ratings - BB+, Capital Intelligence - BBB (investment grade).

Additional information:
Indra Zinkevica
Head of International Communications
Phone: +371 6 777 8571
E-mail: indra.zinkevica@parex.lv

Press release (PDF)
http://hugin.info/136071/R/1194081/241745.pdf

Parex sindicate
http://hugin.info/136071/R/1194081/241746.jpg

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This release was published on openPR.