OREANDA-NEWS. January 27, 2011. SCM has made the last – seventh in succession – payment for the secured loan of USD 545m, thus fully repaying it.

SCM obtained a syndicated four-year loan in March 2007. The syndicate organizers included BNP Paribas (Switzerland) SA, Bayerische Hypo- und Vereinsbank AG (UniCredit Group), NATIXIS, Raiffeisen Zentralbank Osterreich AG and Standard Bank plc (as mandated lead arrangers). Initially the amount of the loan was USD 400m but it grew later (in August 2007) to USD 545m. The facility required seven payments with the last one scheduled for Q1 2011.

"By repaying this loan we proved one more time that we are responsible and reliable partners. All seven payments have been effected on time and in full. Such attitude to our commitments and a balanced borrowing policy help us to continue to develop in line with our strategic goals and, most importantly, keep the trust of our partners and investors," noted SCM's CFO Margarita Povazhnaya.