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05.04.2005

Bank Austria Creditanstalt arranges EUR 160 million transaction for Croatian Bank for Reconstruction and Development

  • BA-CA acts as bookrunner and achieves oversubscription in syndication process
  • Renewed mandate from Croatian Bank for Reconstruction and Development (HBOR) proves confidence in BA-CA's arrangement expertise and placement power
  • Signing of the agreement in Opatija/Croatia today

Today the agreements on the highly successful syndication for the Croatian Bank for Reconstruction and Development (Hrvatska Banka Obnovu i Razvitak – HBOR) will be signed in Opatija, a town on the Croatian Adriatic coast. Together with an international syndicate of banks, Bank Austria Creditanstalt (BA-CA) was mandated to arrange a EUR 160 million syndicated loan. BA-CA also acted as one of the international bookrunners for this transaction and was thus responsible for placement in the international market.

The highly successful syndication process led to significant oversubscription. Apart from Bank Austria Creditanstalt, the other members of the arranging syndicate were BayernLB, Calyon and Mizuho Corporate Bank Ltd. The loan has a three-year maturity and is used for funding purposes. In 2003, BA-CA had received a mandate from HBOR for arranging a facility in the international loan market. The renewed mandate proves HBOR's strong confidence in BA-CA's arrangement expertise and placement power. With this Croatian benchmark transaction BA-CA can further strengthen its market position in the region.

HBOR, the Export Credit Agency (ECA) of the Republic of Croatia, is wholly-owned by the state and enjoys the same international rating as the Republic of Croatia (Moody's: Baa3, Standard & Poor's: BBB flat). Moreover, under a state guarantee defined by law, the Republic of Croatia is liable for all loans raised by HBOR. HBOR is one of the country's most prominent borrowers and is among the leading institutions in the entire CEE region.

Together with HVB Group, Bank Austria Creditanstalt is among the leading arrangers of syndicated loans in Central and Eastern Europe. With some 1,000 branches in 11 countries, Bank Austria Creditanstalt operates the leading banking network in the region, where 17,800 employees serve more than 4.5 million customers.

Enquiries: Bank Austria Creditanstalt, Syndication & Loan Markets
Markus Pieringer, tel. +43 (0)5 05 05 43134; e-mail: markus.pieringer@ba-ca.com