Nomos-Bank to raise $80 mln syndicated loan at LIBOR+1.55% by end of April

Nomos-Bank plans to raise an $80 million syndicated loan at the end of April at LIBOR+1.55%,the bank said in a March 25 press release.

Nomos Bank has selected Standard Bank and Raiffeisen Zentralbank Osterreich to organize the loan. The raised funds will be put toward financing the bank’s clients engaged in the gold production sector.

Nomos-Bank’s previous loan for financing gold producing enterprises was raised at the end of March 2007. That loan was organized by Standard Bank,Raiffeisen Zentralbank Osterreich and Societe Generale.

The earlier loan came to $150 million and was allocated through two tranches,which had periods of maturation of one year and one and a half years,respectively. The rate on the first tranche was LIBOR+0.9% while the second tranche was at LIBOR+1.1%. The loan’s syndicate included 35 creditors.

Nomos-Bank earlier said that the first tranche of the earlier loan reached maturation at $91.75 million on March 20. The maturation of the second tranche is set to take place by the end of September of this year.

Nomos-Bank needs $700 million for refinancing in 2008 to cover trade financing,syndicated loans and club deals.

The ICT Group controls the bank.

Nomos Bank was 15th on the Interfax—100 list of the biggest banks in terms of assets at the end of 2007.