The loan was arranged by Bayerische Landesbank, Commerzbank Aktiengesellschaft, Erste Group Bank AG, Intesa Sanpaolo Ireland P.L.C., Raiffeisen Zentralbank Oesterreich AG and WestLB AG, London Branch, which also acted as the facility agent.
The syndication also involved another six European banks.
Commenting on the deal, Kirill Shpigun, the head of Zenit's board, said the deal "vividly demonstrated the high degree of trust of Western partner banks, even amid instability on the international financial markets."
Bank Zenit was established in 1994 principally by the National Economy Academy at the Russian government and Tatneft, one of Russia's top ten crude producers.
The bank was rated Bà3/Stable by Moody's and B+/Stable by Fitch.
