Metinvest is set to sign a US$550mn pre-export finance loan with a syndicate of banks.

The deal is expected to be signed next week, GTR’s source confirms, and according to other reports, it will have a tenor of three years. The facility was initially intended to total US$300mn but was upgraded after being heavily oversubscribed.

Bloomberg is reporting that the loan will be priced at Libor plus 5.2% with a one-year grace period. Deutsche Bank, Natixis, ING and Raiffeisen are believed to be among the syndicate.