VTB Gets $3 Billion in Biggest Syndicated Russian Bank Loan
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VTB Group, Russia’s second-biggest bank, said it obtained a $3.13 billion loan in the largest syndicated deal for a Russian lender.
The three-year term loan was led by ING Groep NV and Sumitomo Mitsui Financial Group Inc. and will pay interest of 130 basis points more than the London interbank offered rate, or Libor, according to a statement from the Moscow-based bank. A basis point is 0.01 percentage point.