OREANDA-NEWS. November 12, 2010. Siberian Coal Energy Company (SUEK) is pleased to announce the successful closing of a USD 900 million Pre-Export Finance Facility. The Facility was initially launched at USD 700 million and was subsequently increased in the course of general syndication to USD 900 million on the back of strong demand from the banks.

During the general syndication, BAWAG P.S.K. Bank fur Arbeit und Wirtschaft und Osterreichische Postsparkasse Aktiengesellschaft, Caterpillar Financial (Zurich), Erste Group Bank AG, HSBC Bank PLC and OJSC Nordea Bank have joined the syndicate of leading international banks who acted as Mandated Lead Arrangers and Bookrunners, specifically BNP Paribas, The Bank of Tokyo-Mitsubishi UFJ, Ltd., Citi (Communication Agent), Commerzbank Aktiengesellschaft, Credit Agricole Corporate and Investment Bank, ING Bank N.V. (Coordinating MLA and Facility Agent), Banca Intesa, Rabobank International, London Branch, Raiffeisen Bank International AG, Vienna, ZAO Raiffeisenbank (Passport Bank), JSC "Banque Societe Generale Vostok" and Societe Generale Corporate & Investment Banking (Coordinating MLA and Documentation Agent), Sumitomo Mitsui Banking Corporation, UniCredit Bank AG and ZAO UniCredit Bank (Passport Bank).

The 5-year facility carries an initial margin of 325 basis points and is secured by the company's export revenues. The proceeds will be used primarily for refinancing of existing debt and also for financing of general working capital needs.