ZAGREB, July 26 (Hina) - Croatian oil company INA earlier this week signed a contract on a US$150 million international syndicated loan with 23 banks from 12 countries, one of the loan's arrangers, Zagrebacka Bank, said on
Friday.
ZAGREB, July 26 (Hina) - Croatian oil company INA earlier this week
signed a contract on a US$150 million international syndicated loan
with 23 banks from 12 countries, one of the loan's arrangers,
Zagrebacka Bank, said on Friday. #L#
The loan has been approved for a period of four years, with a one-
year grace period, and a 1.3 percent interest rate plus LIBOR. INA
will use the loan for general purposes.
The loan constitutes the biggest transaction for a Croatian company
on the international bank loans market in 2002.
The joint arrangers of the syndicated loan are Mizuho Corporate
Bank and Zagrebacka Bank, which guaranteed the entry of the loan's
entire amount. Mizuho Corporate Bank is the world's biggest bank as
to balance, whereas Zagrebacka Bank is Croatia's premier bank as to
balance and capital.
Thirteen other banks which entered the syndicate as co-arrangers,
with US$10 million are: Alpha Bank, Arab Banking Corporation, Banca
Nazionale del Lavoro, DEPFA Investment Bank, J.P. Morgan, KBC,
Landesbank Schleswig-Holstein Girozentrale, The Bank of Tokyo
Mitsubishi, Erste Bank, Hungarian Foreign Trade Bank, OTP, RZB, and
Societe Generale.
Participating in the syndicate as leading managers, with US$7.5
million, are Credit Agricole Indosuez and Piraeus Bank.
Participating as managers, with US$5 million, are Bank Austria
Creditanstalt, Investkredit Bank, and WGZ Bank. Adria Bank, Israel
Discount Bank of New York, and Salzburger Landes- Hypotheken Bank
entered as participants, with US$2.5 million.
Banking experts evaluate the transaction reflects the
international financial market's trust in INA and its business
prospects.
(hina) ha