OAO Yuzhkuzbassugol has secured a US$55mn 4.5-year coal pre-export finance facility through a syndicate of international lenders led by Soci&eaute;té Générale Corporate & Investment Banking.
The facility was fully underwritten by SG CIB and syndication has successfully closed.
SG CIB acted as sole mandated lead arranger, sole bookrunner, facility and security agent while BSGV (the Russian subsidiary of Soci&eaute;té Générale acted as passport bank.
The syndicate includes Banque Cantonale Vaudoise, GarantiBank International, Moscow Narodny Bank and Natexis Banques Populaires.
Yuzhkuzbassugol is the largest coking coal and third largest coal (coking and steam coal) producer in Russia with total output of 18.1mn tones in 2004. The facility will be used to finance capital investments of Yuzhkuzbassugol in connection with the production and export of coal.