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-CORRECTED - Russian Nomos Bank lends USD171m to Otkritie Bank.

BANKING AND CREDIT NEWS-December 13, 2011--CORRECTED - Russian Nomos Bank lends USD171m to Otkritie Bank(C)2011 M2 COMMUNICATIONS http://www.m2.com

(Corrects to show who is the lender and who is the borrower. The correction was made by Russian news agency Prime.)

In our story dated 12 December 2011 and headlined "Russian Otkritie Bank lends USD171m to Nomos Bank", please read the headline as "Russian Nomos Bank lends USD171m to Otkritie Bank" and the lead paragraph as "Russia-based Otkritie Bank said today it had obtained a RUB5.4bn (USD171m/EUR129m) loan from sector player Nomos Bank (RTC:NMOS)." instead of "Russia-based Otkritie Bank said today it had lent RUB5.4bn (USD171m/EUR129m) to sector player Nomos Bank (RTC:NMOS)."

A corrected version follows:

12 December 2011 - Russia-based Otkritie Bank said today it had obtained a RUB5.4bn (USD171m/EUR129m) loan from sector player Nomos Bank (RTC:NMOS).

The loan, with an annual interest rate of 12%, will be available till 31 May 2012.

Nomos Bank, which reaped USD718m (EUR542m) through its initial public offering (IPO) on the bourse in London in April, signed a USD200m syndicated loan deal in October, Reuters reported at that time. The syndicated loan came with a one-year extension option and an interest rate of 1.9% above Libor.

In late September, Nomos Bank said it had attracted a RUB6bn subordinated loan from its 26.53%-shareholder Russia Finance Corp.

((Comments on this story may be sent to info@m2.com))

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Publication:M2 Banking & Credit News (BCN)
Geographic Code:4EXRU
Date:Dec 13, 2011
Words:246
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