Romanian state-owned bank Eximbank, which officially announced that it entered an agreement to buy the local subsidiary of the National Bank of Greece, will finance the deal, including the repayment of the credit line to NBG, with a RON 2 billion (EUR 420 million) syndicated loan, according to unofficial sources quoted by Economica.net. 

While some sources point to JP Morgan as the underwriter of the loan, others indicate Moscow-based International Investment Bank (IIB) as the possible lead bank.

JP Morgan Securities Plc acted as a single financial consultant in the Eximbank - Banca Românească transaction.

Political sources say that the group leader in a syndicated loan will likely be the International Investment Bank. The IIB is a multilateral development institution founded in 1970 by then-communist countries. Romania has a share of 5.86% of the IIB capital, the other members are Russia (47.63%), Bulgaria (13.4%), Hungary (12.7%), Czech Republic (9.64%), 6,82%), Cuba (1.7%), Vietnam (1.17%) and Mongolia (1.08%).

editor@romania-insider.com

(Photo source: Eximbank.ro)