February 7, 2011

BNP Paribas and Deutsche Bank AG arrange a US$1.2bn syndicated pre-export finance facility for JSC Lebedinskiy GOK, JOSC OEMK and JSC Holding Company Metalloinvest

We are pleased to announce that JSC Lebedinskiy GOK, JOSC OEMK and JSC Holding Company Metalloinvest (together “Metalloinvest” or the “Group”) have mandated BNP Paribas and Deutsche Bank AG (together the “Mandated Lead Arrangers” and “Bookrunners”) to arrange a US$1.2bn syndicated pre-export finance facility (the “Facility”). The Facility will be used to refinance existing indebtedness (including the US$1.6bn term loan facility signed in July 2008) and for general corporate purposes (including trade finance).

The tenor of the Facility is 5 years and benefits from a margin set on the basis of a Debt to EBITDA ratio.

It is anticipated that the Mandated Lead Arrangers and Bookrunners will launch syndication in the second half of February 2011.

Metalloinvest is the largest iron ore producer in Europe and CIS and the owner of the largest iron ore reserves in the world. In 2010 the Group produced 35.1 million tonnes of concentrate, 21.9 million tonnes of pellets, 2.3 million tonnes of HBI and 6.1 million tonnes of steel. In the first half of 2010 Metalloinvest generated approximately US$1.2 billion of EBITDA with overall EBITDA margin of 37%. In 2010 Metalloinvest repayed US$1.4bn reducing its debt level to US$4.1bn by the end of 2010 .

 

For further information please contact:

Helen Guillemot

Head of Loan syndications

E&C Structured Finance CIS, Eastern Europe & Turkey

BNP Paribas

+ 41 58 212 2198

helen.guillemot@bnpparibas.com

Boris Jaquet

Director

Emerging Markets Loan Distribution

Deutsche Bank

+ 44 207 545 7937

boris.jaquet@db.com

 

 



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