OREANDA-NEWS. August 29, 2014. Rosbank and Societe Generale joined the syndicate of international banks and acted as Senior Mandated Lead Arrangers for up to USD425 million 5-year pre-export finance facility (“PXF”) in favour of Evraz Nizhny Tagil metal works and Evraz West-Siberian metal works (NTMK and ZSMK, part of Evraz holding).

The proceeds of the PXF should be channeled to the refinancing of existing Evraz indebtedness.

The terms of PXF assume floating interest rate calculated as total of LIBOR and margin, the latter depending on EVRAZ’s net leverage ratio and initially set at 3.5% per annum. The facility will amortize in quarterly installments after 24 months grace period. The facility is secured by assignment of Borrower’s export revenues and guaranteed by parent company EVRAZ plc and Evraz’s trading company East Metals AG.

Rosbank’s Deputy Chairman of the Management Board - 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 arrangement of syndicated loan in favour of Evraz subsidiaries proves our commitment to Russian market and importance of long-term relationship with our clients".