OREANDA-NEWS. April 02, 2013. Sberbank CIB (financing provided by Sberbank of Russia) acted as a mandated lead arranger for the provision of a syndicated loan to GeoProMining Group (“GPM”).

Financing was also arranged by Raiffeisen Bank International AG (“RBI AG”) and CJSC Raiffeisenbank (“RBRU”) (together “RBI Group”), Sberbank (Switzerland) AG, a subsidiary company of Sberbank of Russia, and UniCredit (participating in the deal through CJSC UniCreditBank and UniCredit Bank AG, London).

The loan amounted to USD 250 mln, of which USD 175 mln will be provided by the Sberbank Group. UniCredit Bank AG, London acted as Facility and Security Agent for the facility. Sberbank of Russia acted as Local Security Agent. The loan is issued for a period of five years and is secured by assets and guarantees made by the Group’s main operating companies.

The proceeds will be used to repay GPM’s existing indebtedness and to finance capital investment.

The GeoProMining Group is a mining company with a diversified metals resource base and operating assets in Russia and Armenia. The company produces dore gold and also copper, molybdenum and antimony concentrates. The financing raised will enable the company to considerably boost its production facilities and occupy a leading position in the industry.