Milkiland seals US$100mn syndicated loan
Russian and Ukrainian dairy producer Milkiland has closed a four-year US$100mn syndicated facility with three international banks to refinance its existing loans.
UniCredit and Raiffeisen Bank acted as the arrangers and bookrunners on the deal, along with RBS who also coordinated the transaction.
The loan will also be used to support the further development of Milkiland’s business and can be utilised in parts during the availability period of nine months.
“The utilisation of this loan will support our development plans, both organic and through M&A. In addition, our group will benefit from lower interest rate compared to existing loans,” comments Anatoliy Yurkevich, Milkiland chairman of the board of directors.
“We are confident that our competitive advantages will represent a natural hedge against possible local currency devaluation. In addition, a prolonged availability period provides Milkiland with flexibility in managing of currency risks,” he notes.
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