Ural mining and metallurgical company (UMMC) reports that the syndicated loan in the amount of 200 million euros. Funding provided by the syndicate of first-class foreign and Russian banks: JSC "Raiffeisenbank", JSC "Banca Intesa", Isibasi Bank (JSC), JSCB "BANK OF CHINA" (JSC), the international investment Bank, JSCB ROSBANK (group Societe Geerale), RCB Bak Ltd, LLC "China construction Bank" and PJSC "Sovcombank". JSC Raiffeisenbank acted as coordinator, documentation agent and credit Manager. The loan was made by JSC "UMMC" is the head company of the Group UMMC.
"this type of transaction is a milestone not only for our company but for the Russian debt market in General. We are pleased that together with our partners we have successfully arranged a deal syndicated loan with foreign banks and the development Bank under Russian law.
We deeply appreciate the participation in this transaction, the interest of foreign banks. I would like to Express our gratitude to our permanent partners of JSC "Raiffeisen Bank" and PJSC JSCB ROSBANK (Societe Geerale group), and our new partners. It is important to note that a significant part of the demand for participation in the syndicate was formed by the Chinese banks.
we would like to note the professionalism of the team of JSC "Raiffeisenbank" as organizer", – said the General Director UGMK Andrey Kozitsyn.
the Transaction closed in the format of unsecured loan for a period of 4 years. The terms of transaction provide the option to increase the loan amount up to 300 million euros. The loan agreement was signed in the Russian law in the form of standardised documentation for syndicated lending. Legal support of the transaction creditors held in Moscow office of Clifford Chace.
funds raised will be used to refinance existing corporate debt and for working capital.
reference:
the Ural mining and metallurgical company – Russian mining and metallurgical holding, the largest producer of copper, zinc, coal, and precious metals in the country uniting more than 40 industrial enterprises in Russia and abroad.
