Strong demand leads SUEK to increase syndicated pre-export loan facility to $900 million

Октября 29, 2010

Siberian Coal Energy Company (SUEK) is pleased to announce the successful closing of a US$900 million Pre-Export Finance Facility. The Facility was initially launched at US$700 million and was subsequently increased in the course of general syndication to US$900 million on the back of strong demand from the banks.

The 5-year facility carries an initial margin of 325 basis points and is secured by the company's export revenues. The proceeds will be used primarily for refinancing of existing debt and also for financing of general working capital needs.
During the general syndication, BAWAG P.S.K. Bank für Arbeit und Wirtschaft und Österreichische Postsparkasse Aktiengesellschaft, Caterpillar Financial (Zurich), Erste Group Bank AG, HSBC Bank PLC and OJSC Nordea Bank have joined the syndicate of leading international banks who acted as Mandated Lead Arrangers and Bookrunners, specifically BNP Paribas, The Bank of Tokyo-Mitsubishi UFJ, Ltd., Citi (Communication Agent), Commerzbank Aktiengesellschaft, Credit Agricole Corporate and Investment Bank, ING Bank N.V. (Coordinating MLA and Facility Agent), Banca Intesa, Rabobank International, London Branch, Raiffeisen Bank International AG, Vienna, ZAO Raiffeisenbank (Passport Bank), JSC “Banque Societe Generale Vostok” and Societe Generale Corporate & Investment Banking (Coordinating MLA and Documentation Agent), Sumitomo Mitsui Banking Corporation, UniCredit Bank AG and ZAO UniCredit Bank (Passport Bank).