Rosbank took part in a €200 mln syndicated credit facility to finance Ural Mining and Metallurgical Company

    16 December

Rosbank took part in a €200 mln syndicated credit facility to finance Ural Mining and Metallurgical Company with a 4-year period.

The option to enlarge the credit sum to €300 mln was also provided by the terms of the deal.

The credit agreement was signed in Russian law according to the form of a standardized documentation for syndicated lending. Clifford Chance office in Moscow provided the legal support of the deal for lenders.

“This deal is a continuation of a long-term strategic partnership of PJSC ROSBANK and UMMC Group, one of the largest Russian mining and metallurgical holdings. We proudly support our client in terms of high-tech production development and we are glad to make our own contribution in the development of Russian industry”, Perizat Shaikhina, First Deputy CEO of Rosbank.

“The closing of this deal is a landmark event not only for our company but also for the Russian debt market in general.  We are pleased to note that we and the partners organized a syndicated credit facility deal successfully with foreign banks according to Russian law. We appreciate the interest of foreign banks to the participation in this deal. We want to express gratitude to both our constant partners JSC “Raiffeisenbank” and PJSC ROSBANK (Societe Generale Group) and to our new partners. It is worth mentioning that the significant part of the participation demand was formed by Chinese banks. We want to give special thanks to JSC “Raiffeisenbank” as an organizer”, Andrey Kozitsyn, General Director of OJSC “UMMC”

The financing was provided by the syndicate of foreign and Russian banks: JSC “Raiffeisenbank”, JSC “Bank Intesa”, ICBC Bank (JSC), ACB “BANK OF CHINA” (JSC), International Investment Bank, PJSC ROSBANK (Societe Generale Group), RCB Bank Ltd, LLC “China Construction Bank” and PJSC “Sovcombank”. The borrower of the loan is OJSC “UMMC”, the head company of UMMC Group.

The attracted funds will be transferred to the refinancing of a current corporate debt and to fulfill a floating capital.

Ural Mining and Metallurgical Company is a Russian mining and metallurgical holding, the largest producer of copper, zinc, coal and precious metals in the country that unites more than 40 industrial factories in Russia and abroad.