Rosbank acted as one of the arrangers of a syndicated pre-export finance facility for Polymetal Group
PJSC Rosbank and Societe Generale, together with a pool of international banks, acted as Mandated Lead Arrangers and Bookrunners for USD 245 million pre-export finance facility for JSC Polymetal.
This is a four-year facility. Polymetal plans to use the proceeds to refinance maturing debt and for general corporate purposes.
The facility includes an accordion feature which allows JSC Polymetal to request an increase of the facility in additional amount of USD 105 million, potentially bringing the total amount available under the PXF up to USD 350 million.
Vitaly Nesis, Polymetal Group CEO said: The US$ 245 million in credit facilities, coupled with its flexible accordion feature of an additional US$ 105 million, adds to our already strong liquidity position and reflects Polymetal’s financial strength and our confidence in the Company's growth opportunities”.
Rosbank’s Deputy Chairman of the Management Board, Head of Coverage and Investment Banking for Russia/CIS, Societe Generale Corporate & Investment Banking, Ilya Polyakov comments upon the facility: “The deal with JSC Polymetal is an important achievement for the Societe Generale Group and Rosbank. Its successful completion is a result of an outstanding team work between JSC Polymetal and mandated lead arrangers. SG’s extensive expertise in structured commodity finance allows us to provide our key clients with reliability and years of effective cooperation”.