Philippine company Platinum Group Metals has closed a four-year US$40mn pre-export finance facility with Amsterdam Trade Bank (ATB) to purchase new equipment for its nickel mining.

ATB, a subsidiary of Russia’s Alfa-Bank, acted as the sole arranger, initial lender, facility agent, security agent and account bank.

The Philippine Export-Import Credit Agency (PhilExim) covered a US$5mn portion of the deal.