Dewey & LeBoeuf has represented key Russian bank client JSC VTB Bank as the borrower on a US$3.13 billion syndicated term loan facility from a consortium of international banks, with 19 mandated lead arrangers.
VTB is one of Russia’s leading bank groups, offering a range of retail, corporate and investment banking services, and is majority owned by the Russian government. The bank intends to use the facility to refinance existing debt.
The lead arrangers for the facility are Bank of America Merrill Lynch; The Bank of Tokyo-Mitsubishi UFJ, Ltd.; Barclays Capital; BNP Paribas; China Development Bank Corporation; Citibank N.A.; Commerzbank AG; Crédit Agricole Corporate and Investment Bank; Credit Suisse AG; Deutsche Bank AG; Goldman Sachs International; ING Bank N.V.; J.P.Morgan Ltd; Mizuho Corporate Bank, Ltd.; Morgan Stanley Bank International Ltd; Société Générale; Sumitomo Mitsui Banking Corporation Europe Ltd; The Royal Bank of Scotland N.V. and Wells Fargo Bank, N.A.
Dewey & LeBoeuf’s global head of banking, Bruce Johnston commented: “This loan demonstrates the attractiveness of VTB as a borrower. It was executed quickly and efficiently, and generated an enormous amount of interest amongst banks. For Dewey & LeBoeuf, the loan further demonstrates our leadership in financings in the emerging markets.”
Mr. Johnston advised VTB alongside Associate Cristina Volc.
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