Russia's Finansbank adds additional $130 million tranche to loan facility

By Reshmi Basu

New York, June 22 - Finansbank (Russia) Ltd. added an additional $130 million tranche to its current syndicated loan facility, which was set up on June 2, 2005.

The total size of the loan now stands at $580 million.

The facility now includes three tranches. Tranche A is a loan used for pre-export financing and has been extended beyond its original one-year tenor. Proceeds from tranche B, which carries a two-year tenor, will be used for general corporate purposes.

The new tranche C has been added for the new banks that have joined the facility.

The issuer is a Moscow-based subsidiary of Turkey's Finansbank SA.

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