Ukrainian steel producer Metinvest has secured a US$300mn three-year pre-export finance facility.

The facility will be used to fund the group’s capital expenditure programme and will also be used for general corporate purposes.

The loan pays an interest of 5.25% a year plus Libor and has a grace period of one year.

Deutsche Bank acted as co-ordinating mandated lead arranger and bookrunner, Natixis and ING acted as initial mandated lead arrangers and bookrunners for the syndication, while Raiffeisen Bank acted as mandated lead arranger.

Sergiy Novikov, chief financial officer at Metinvest, says: “We intended to raise around US$225mn before the end of the year, and we are very pleased with the high level of interest from the banks which allowed us to increase this amount to US$300mn.”