Metinvest Secures US$850m Loan Facility

Metinvest has closed a US$850m pre-export facility. The majority of the proceeds will be used to replace two existing pre-export finance facilities on improved terms. The tenor of the new loan is five years, paying an interest margin of 3% per annum over LIBOR.

The deal was signed with five mandated lead arrangers and bookrunners: Deutsche Bank, ING Bank, Natixis, UniCredit Bank, WestLB, and one mandated lead arranger: BNP Paribas. Deutsche Bank is also acting as co-ordinating mandated lead arranger, facility agent and security trustee.

The bookrunners are preparing to launch syndication to a wider bank group in September. The exercise will be relationship defining and will target an increase of the facility amount.


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