SUEK secures US$1.5 billion syndicated pre-export loan facility

The Facility was syndicated by a group of leading international banks and coordinated by ING. The deal was supported both by SUEK’s major relationship banks and also included new lenders to SUEK.

The 5-year facility has a grace period of 2 years and equal monthly repayments thereafter. It carries a margin of 1M LIBOR+270 basis points and is secured by the company's export revenues. The facility will be used primarily for refinancing of existing debt and also for general corporate needs.

The transaction was executed within 3 months and became a tremendous success on syndycation market. It was launched at USD1.2bn, received commitments in excess of USD2bn in the senior syndication stage and signed at USD1.5bn.