Dec. 20 (Bloomberg) -- Alfa Bank, Russia’s biggest private lender, agreed to borrow $250 million from a group of foreign banks.

The one-year loan, which was increased from the initially planned $160 million, is paying interest of 175 basis points more than the London interbank offered rate, the Moscow-based bank said in an e-mailed statement today.

Citigroup Inc., HSBC Holdings Plc., WestLB AG and Wells Fargo & Co. organized the deal, according to the statement.

To contact the editor responsible for this story: Denis Maternovsky at dmaternovsky@bloomberg.net