Last Updated July 21, 2010
Ukrainian steel producer Metinvest is on the cusp of closing its three-year US$700mn pre-export financing.
The deal was massively oversubscribed in syndication, with the company originally setting out to achieve US$300mn.
Deutsche Bank has arranged the facility, which is rumoured to carry a margin of around 550 basis points over Libor.
Sources close to the project tell GTR that it will close late this week or early next week.
The steelmaker’s last foray into the syndication market came in late 2007, when ABN Amro, BNP Paribas, Deutsche and ING acted as mandated lead arrangers for a US$1.5bn pre-export facility.
This is 2010’s first syndicated deal for a Ukrainian borrower.
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