Wednesday, August 23, 2017

Nomos Bank receives $240 million loan from domestic, foreign banks

Earlier this week, Nomos Bank announced that it is taking a syndicated loan valued at $240 million from a collective of domestic and foreign banks.

Under the agreement, the loan--one of the largest in the bank's history--has a one-year term with an option for extension. Loan interest rates have been calculated at LIBOR, plus 1.75 percent per year. Funds will be used to finance mining and metallurgical customers of Nomos Bank.

"The deal was very oversubscribed," Nomos Bank President Denis Romanev said. "Its ultimate amount could have been higher but we decided to meet the demand to the extent corresponding to the loan portfolio of gold mining companies. At the same time, the deal involved as many as 15 credit and financial institutions, which is evidence of the high level of trust in Nomos Bank of the part of its partner banks."

The loan obtained by Nomos Bank was arranged by Commerzbank AG, Bank of America Merill Lynch, Citi, JPMorgan and several other international banks, including support from the governor of the Bank of Ireland.