01/10/2020 | Press release | Distributed by Public on 01/10/2020 02:51
CBM raises up to RMB 2 bln syndicated loan
On 26 December 2019, Credit Bank of Moscow (CBM) signed an up to RMB 2 bln (c. USD 280 mln) syndicated loan agreement with large regional banks of China.
CBM has become the first privately-owned Russian bank to raise a syndicated loan from Chinese financial organisations. The proceeds are to be applied to finance trade between Russia and China.
This facility has the peculiarity of being syndicated by regional Chinese banks who actively develop trade relations between the two states in bordering regions.
Harbin Bank acted as Agency Bank and Huishang Bank acted as Leading Bank.
In November 2019, CBM obtained the Chinese national scale credit rating of 'АА+' from Lianhe Ratings. CBM has already announced that it considers Asia as a strategically important region for expanding its operations. The Bank plans to continue developing actively its business in China and Asia as a whole.