Banks have signed up to a three-year US$250mn dual-tranche pre-export financing for
The deal is structured as a combination of a revolving credit line for US$100mn and a term loan of US$150mn. Pricing of the revolving credit line is 3% per annum over Libor. The three-year term loan is priced at 3.25%. This is the first revolving credit for a Russian corporate to be syndicated in the international market.
“This credit facility is a result of the positive reception of the company in the international loan markets in recent years,” says a bank participant. “It also provides for good prospects for further co-operation with foreign financial institutions and investors.”