Last Updated June 03, 2008
Mandates on a US$1.3bn pre-export financing for Russian iron ore and steel company Metalloinvest are due to be confirmed by the end of the week. According to a banker working on the deal, a total of 13 banks have been appointed to lead arrange the facility.
BNP Paribas and ING are co-ordinating banks within the 13-strong mandated lead arranger (MLAs) group. Fellow MLA ABN Amro is the hedge provider on the deal. The financing is said to carry a tenor of five years. Funding is due to be made in mid-June.
Metalloinvest was in the market at the end of 2007 raising a US$1bn pre-export financing. That facility was raised under the name Gazmetall, whose assets are owned by Metalloinvest holding company. The MLAs on this deal were ABN Amro and BNP Paribas.
At the beginning of April, Gazmetall was renamed Metalloinvest holding company, and all its assets were consolidated into the holding company.
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