SUEK secures US$ 1 billion pre-export finance facility with 5 and 7 years tranches

ING Bank N.V and Unicredit Bank Austria AG acted as Coordinators. The Mandated Lead Arrangers of the pre-export finance facility are leading international banks: ING Bank N.V (Facility Agent), Unicredit Bank Austria AG, JSC Alfabank, Commerzbank AG, Luxembourg Branch, Rabobank London, Sberbank of Russia, Societe Generale Group represented by SGBT Asset Based Funding S.A. and PJSC Rosbank, Intesa Sanpaolo Bank Ireland PLC and JSC NORDEA. The deal was supported by SUEK’s major banking partners.

The loan facility consisting of two tranches with the maturity of 5 and 7 years is secured against the Group’s export revenue and will be used for refinancing of existing loans of SUEK and the general corporate purposes. The funds raised will enable the Company to satisfy its 2016 refinancing needs and reschedule the main debt repayments to 2018-2020.

As at 31 December 2015 the Group’s net debt was US$ 2,786 million, which was equal to 2.96x bank EBITDA.