The transaction has some unique features associated with hedging the lenders’ exposure at closing to the fixed interest payable by the Company. The credit facility is raised through a self-arranged club deal that attracted interest from prospective lenders in the amount substantially exceeding the Company’s borrowing requirements. The amount of the credit facility will be drawn down in tranches between July and November of 2011.
The loan was arranged by BNP Paribas (Suisse) SA, The Bank Of Tokyo Mitsubishi UFJ, Ltd., Commerzbank Aktiengesellschaft, ING Bank N.V., Natixis, Open Joint Stock Company Nordea Bank, Sumitomo Mitsui Banking Corporation and WestLB AG, London Branch.
ING Bank N.V. and WestLB AG, London Branch, acted as Joint Coordinators. WestLB AG, London Branch, is also acting as Facility Agent and Documentation Agent.
The proceeds from the loan will be used for working capital purposes.
Allen & Overy LLP acted as legal advisor to the lenders, and Cleary, Gottlieb, Steen and Hamilton LLP advised the Company.
In 2010 the Company raised 2 billion US Dollars under a pre-export financing facility from a club of Russian and international banks. In 2009 the Company raised 1.5 billion US Dollars pre-export financing facility from a syndicate of Russian and international banks, that facility, being the first deal of such type, received number of accolades, including being named Best CEE Loan of 2009 by Euroweek, Loan of the Year by Trade Finance Magazine and Global Trade Review.
23 Января 2025 | четверг | 02:20
