MOSCOW, Aug 25 (Reuters) - Russia's MDM bank, the country's second-largest private lender, is seeking a dual currency loan worth $175 million at a rate of 4 percent over LIBOR LIBO, the bank said in a statement on Tuesday.
Funds from the loan will be used to support trade financing or other trade-related projects of the bank’s clients, the group said.
Calyon, ING Bank, Raiffeisen Zentralbank Oesterreich, Standard Chartered Bank and VTB Bank are mandated to arrange the loan, which is part of the financing provided to the bank by the International Financial Corporation, the investment arm of the World Bank. (Reporting by Dmitry Sergeev; Editing by David Holmes)
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