Russia-based leading global iron ore and hot briquetted iron (HBI) producer Metalloinvest has announced the completion of the deal announced on March 19 for a pre-export finance facility (PXF) with a club of international banks in the amount of $1.150 billion and the refinancing of the preceding syndicated loan.
The PXF is divided into two tranches: $850 million will be redeemed in equal monthly installments from April 2016 to March 2019, while the second tranche of $300 million will be fully repaid in one bullet amount at maturity in March 2016. Both tranches have floating interest rates linked to LIBOR.
Deutsche Bank Amsterdam branch, ING Bank NV and Société Générale acted as coordinators and bookrunners. The senior mandated lead arrangers were ZAO UniCredit Bank, BNP Paribas (Suisse) SA and Crédit Agricole Corporate and Investment Bank. Bank of Tokyo-Mitsubishi UFJ Ltd and Credit Suisse AG participated in the deal as mandated lead arrangers.