OREANDA-NEWS. SUEK PLC has secured a 5-year USD 1.5 billion syndicated pre-export loan facility. The deal was signed on January 28, 2014.

The Facility was syndicated by a group of leading international banks and coordinated by ING. The deal was supported both by SUEK's major relationship banks and also included new lenders to SUEK. The banking group consisted of THE BANK OF TOKYO-MITSUBISHI UFJ, LTD., BNP PARIBAS (SUISSE) SA, COMMERZBANK, AKTIENGESELLSCHAFT, LONDON BRANCH, CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK, DEUTSCHE BANK AG, AMSTERDAM BRANCH, GAZPROMBANK (OPEN JOINT-STOCK COMPANY), ING BANK N.V., OJSC NORDEA BANK, RAIFFEISEN BANK INTERNATIONAL AG, ZAO RAIFFEISENBANK, JOINT STOCK COMMERCIAL BANK “ROSBANK” (OPEN JOINT-STOCK COMPANY), THE ROYAL BANK OF SCOTLAND PLC, SGBT ASSET BASED FUNDING S.A., SOCIETE GENERALE, SUMITOMO MITSUI BANKING CORPORATION and ZAO UNICREDIT BANK acted as bookrunners and IMLA together with COOPERATIEVE CENTRALE RAIFFEISEN-BOERENLEENBANK B.A. (TRADING AS RABOBANK INTERNATIONAL)as IMLA and BANK OF AMERICA MERRILL LYNCH INTERNATIONAL LIMITED as Lead Arranger. ING Bank N.V. acts as Facility and Security Agent and Coordinating bank.

The 5-year facility has a grace period of 2 years and equal monthly repayments thereafter. It carries a margin of 1M LIBOR+270 basis points and is secured by the company's export revenues. The facility will be used primarily for refinancing of existing debt and also for general corporate needs.

The transaction was executed within 3 months and became a tremendous success on syndycation market. It was launched at USD1.2bn, received commitments in excess of USD2bn in the senior syndication stage and signed at USD1.5bn.