TENEX Completes Syndication of USD 500m Pre-export Finance Facility
OREANDA-NEWS. August 22, 2011. JSC Techsnabexport (TENEX), a Rosatom group company and the world's largest exporter of low-enriched uranium products (EUP), has completed the syndication of a USD 500 million pre-export finance facility with the latest tranche being disbursed last week by a syndicate of international banks. The transaction was guaranteed by JSC Atomenergoprom (AEP), the holding company for the civilian nuclear activities of the Rosatom group and was priced at Libor+2.25% per annum.
The five-year deal is the first syndicated pre-export financing of uranium products ever and has attracted significant interest from financial institutions in the European, Asian and Russian markets. The Bank of Tokyo-Mitsubishi UFJ, Ltd., BNP Paribas, Deutsche Bank, OJSC Nordea Bank, Rosbank (Societe Generale Group) and Societe Generale Corporate & Investment Banking were appointed Mandated Lead Arrangers and Bookrunners. ING Bank N.V. and Natixis joined as Mandated Lead Arrangers. Rosbank acted as Passport Bank for the facility. The deal was coordinated by Deutsche Bank, which also acted as Facility and Security Agent.
Tenex is one of the leading global suppliers of nuclear fuel cycle products and services with experience in EUP deliveries to end-users all over the world. Its total committed long term contract portfolio currently amounts to USD 22 billion.
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