AS HANSAPANK

ANNOUNCEMENT

04.05.99

 

HANSA CAPITAL WILL BORROW 30 MILLION EUROS

 

Hansa Capital has reached an agreement with creditors to borrow 30 

million Euro from the syndicated loan market. The arrangers of the 

facility are EBRD, Deutsche Bank AG and Commerzbank AG. Similarly to 

the syndicated loan taken recently by Hansapank, the facility 

consists of two tranches. The 10 million Euro A-tranche will be 

fully on the account of EBRD while the 20 million Euro B-tranche 

will be publicly offered to the syndicated loan market and will be 

equally underwritten by Deutsche Bank AG and Commerzbank AG. The 

maturity of the A-tranche is 5 years and its interest rate is 225bp 

over 6m Euribor, while the B-tranche has a maturity of 3 years and 

an interest rate of 6m Euribor + 175 bp. The interest rate will be 

accompanied with an up-front management fee.

The loan is covered by a guarantee from Hansapank.

 

The facility is intended to be signed at the beginning of June.

 

Additional information:

Mr. Tarmo Rooteman

Chief Financial Officer

AS Hansa Capital 

Phone: +372 613 1494

 

Mr. Alar Ehandi

Head of Funding and Foreign Relations Department

AS Hansa Capital

Phone: +372 613 1738

 

AS HANSAPANK

 

Mart Toevere

Analyst

Tel. +372 6131 569