BNP Paribas, as agent and mandated lead arranger, has closed a US$50mn 37-month pulp pre-export facility in favour of Russia’s Kotlas, Ilim Pulp Group.
BNP Paribas has enjoyed an “excellent long-standing relationship with Ilim Pulp Group, the biggest player in the sector in Russia”. This relationship started in the years after the Soviet Union era end and since then the bank has established direct contacts with both the founding shareholders and the top management of the group.
“With the new medium-term facility we definitely positioned ourselves as a core, if not the main, bank of Ilim having supported the group from its inception and financing its ongoing development,” claims the bank.
The bank also claims the deal represents a new benchmark in the Russian pulp and paper market in terms of duration.