OREANDA-NEWS. August 22, 2014. Rosbank and Societe Generale being a part of the syndicate of the international banks acted as the Chief organizers of the 5-year credit for a total sum of USD425 million to Evraz NTMK (Nizhny Tagil metal works) and Evraz ZSMK (West-Siberian metal works).

The raised funds will be used for refinancing of the current debt of Evraz.

The credit facility has the floating interest rate of LIBOR + margin that is initially 3.5% per annum and will change later depending on the ratio of net debt of Evraz to EBITDA for the latest 12 months (net leverage). Paying off of the major debt for the credit will be accomplished in equal payments after expiring of the beneficial period of 24 months. The credit is securing by pledging of export revenue of the loaners and guaranteed by the holding company EVRAZ plc and the trade company of Evraz East Metals AG.

Deputy Chairman of the Management Board of Rosbank - Member of the Management Board, Head of Coverage and Investment Banking for Russia/CIS, Societe Generale Corporate & Investment Banking Ilya Polyakov comments: "Participation of Societe Generale Group in organization of syndicated loan to Evraz subsidiaries confirms our commitment to the Russian market and the attention we pay to our long-term cooperation with our clients".