Kazakhmys signs pre-export

Copper mining company Kazakhmys has signed a five-year US$2.1bn pre-export debt facility following a successful general syndication period.

Deutsche Bank managed the first phase of the financing, bringing in 12 additional mandated lead arrangers: ABN Amro, Barclays Bank, BNP Paribas, Calyon, Commerzbank, Dresdner Bank, ING Bank, Natixis, Soci&eaute;té Générale SMBC, BTMU UFJ and WestLB. 
General syndication also proved popular, leading to a significant oversubscription.

Joining the facility during syndication as arrangers are: Bank of China; Fortis, JPMorgan Chase Bank, Merrill Lynch International Bank and Rabobank International. Joining as a co-arranger was ICBC London.

Linklaters acted on behalf of Kazakhmys. Banking partner Mirthe van Kesteren, and managing associate Tim Pipe led the legal team.

The facility has been raised for general corporate purposes, including the funding of its acquisition of the Ekibastuz coal-fired power plant in Kazakhstan.

Kazakhmys has bases in Kazakhstan, Germany and the UK and its main business lines involve mining, processing, smelting, refining and sale of copper and copper products such as cathodes and rods (Click here to read previous coverage in GTR eNews, February 8, 2008)