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UMMC raises a EUR 200 million syndicated facility

UMMC raises a EUR 200 million syndicated facility

The Ural Mining and Metallurgical Company (UMMC) raises EUR 200,000,000 syndicated loan. The financing was provided by a syndicate of leading international and Russian banks: AO Raiffeisenbank, Banca Intesa, Bank ICBC (JSC), Joint-Stock Commercial Bank “Bank of China (Russia)”, International Investment Bank, PJSC ROSBANK (Societe Generale group), RCB Bank Ltd, China Construction Bank (Russia) Limited and PJSC "Sovcombank". AO Raiffeisenbank acted as the documentation agent and the facility agent. The borrower of the loan is UMMC - the parent company of UMMC Group. 

"This transaction is a significant milestone not only for our company, but also for the Russian debt market in general. We are pleased to note that together with our partners we have successfully arranged the syndicated loan transaction with international banks and a development bank under the Russian law.

We highly appreciate the strong interest by foreign banks to this transaction. I would like to express a great gratitude both to our long-standing partners, such as AO Raiffeisenbank and PJSC ROSBANK (Societe Generale group), and to our new partners. It is worth to emphasize that part of the syndicate has been formed by Chinese banks.

We are really pleased with the high professionalism and the high competency of AO Raiffeisenbank team as the arranger of the deal”, said Andrey Kozitsyn, General Director of UMMC. 

The transaction has been executed as a 4-year unsecured loan with an up to EUR 300,000,000 increase option. The Facility Agreement is governed by the Russian law and signed under the standardized form for a syndicated facility agreement. The legal support for the lenders under the transaction was provided by the Moscow office of Clifford Chance.

The raised funds will be used for general purposes of the UMMC Group, including refinancing of the current corporate debt and working capital purposes. 

Note:

The Ural Mining and Metallurgical Company is a mining and metallurgical holding company, the largest producer of copper, zinc, coal and precious metals in Russia, comprising over 40 operations and factories in Russia and abroad