Metalloinvest | 03 September 2016 г. | 10:00

Metalloinvest received pre-export finance facility for $400 mln

Metalloinvest (the Company) as a part of its liquidity expansion has signed a pre-export finance facility (PXF) agreement with a club of banks for $400 mln. The facility can be increased up to a maximum amount of $450 mln. The improvement of liquidity position will allow the Company to optimise its debt maturity schedule.

According to the terms of the agreement, the new PXF is divided into two tranches:

$150 mln five-year tranche with a three-year grace period;
$250 mln seven-year tranche with a five-year grace period.

Both tranches have floating interest rates linked to LIBOR and will be redeemed in equal monthly instalments.

Coordinators and Mandate Lead Arrangers are UniCredit Bank Austria and Sberbank of Russia.

Source: Metal Supply and Sale Magazine
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