Ural Mining Metallurgical Company (UMMC), one of the top Russian producers of copper, zinc and other precious metals, has signed a debut EUR 100-million syndicated loan.
Mandated Lead Arrangers, Bookrunners and Lenders are Raiffeisen Bank International AG, AO Raiffeisenbank, PJSC Rosbank and Societe Generale. Raiffeisen Bank International AG and AO Raiffeisenbank acted as documentation agent and Raiffeisen Bank International AG acts as facility and security agent. The borrower under the facility is JSC Sredneuralskiy Copper Smelter Plant. AO Raiffeisenbank and PJSC Rosbank are Russian account banks.
The 3-year loan is a pre-export finance facility secured by future copper and other export goods deliveries and is governed by English law. The documentation provides for facility amount increase option. The proceeds will be used for refinancing and working capital financing.
Herbert Smith Freehills CIS LLP acted as legal advisors on behalf of the Lenders.
“We are happy to develop strategic cooperation with our foreign partners – Societe Generale and Raiffeisen Group. The deal enables us to broaden the range of various financial instruments used for the needs of the group”, says Andrey Kozitsyn, CEO of UMMC-Holding. (MetalInfo/Ukrainian metal)