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Abanka Vipa Takes Out EUR 175M Syndicated Loan

Ljubljana, 07 July (STA) - Abanka Vipa, Slovenia's third largest bank, signed a three-year contract on a syndicated loan with a consortium of foreign banks worth EUR 175m on Tuesday. The loan will be used for consumer and business loans.

This is the 13th loan of this kind the bank took out on the international capital market so far and is one of the few syndicated loans in the Central and Eastern Europe this year, according to the bank's press release.

The bank claims that this is proof of investors' trust in their establishment. "Despite the demanding financial conditions and the uncertain situation in the financial markets the syndicated loan was a success since the interest of the investors was greater than the initial demand by Abanka."

The credit arrangement was organised by Bayerische Landesbank, Commerzbank, Erste Group Bank, ING Bank, Intesa Sanpaolo, London Branch, Raiffeisen Zentralbank Oesterreich and UniCredit Bank Austria.

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