OREANDA-NEWS. Sberbank CIB, the corporate and investment banking business of Sberbank and UniCredit Bank Austria AG, have acted as the mandated lead arrangers and coordinators of a USD 400 mln syndicated loan1 for Metalloinvest, which can be subsequently increased to USD 450 mln.

The structure of the deal includes two tranches for five and seven years. The deal was organised as a syndicated PXF loan2, which will be used to refinance the Company's current debt and to finance general corporate purposes. The loan is secured by export revenue and a guarantee of Holding Company Metalloinvest JSC.

Commenting on the deal, Yan Veytsman, Head of the Metals & Mining Division, Client Management Department, Managing Director, Sberbank CIB, said: "In 2015, a challenging year for the metallurgical sector, Metalloinvest improved its production indicators and increased its share of domestic iron ore supply to 66% thanks to an increase in deliveries to Russian metallurgists. Sberbank CIB highly values our partnership with Metalloinvest and always strives to support leading companies from strategically important sectors of the economy by providing full-fledged financial solutions. The success of this transaction speaks volumes about the ability of Russian metals and mining companies to attract long-term financing on Russian and international markets."

"For a number of years the banks of UniCredit Group have worked closely with Metalloinvest, which continues to deliver healthy results despite the complex market situation. With deals like this one, we always aim to use the advantages produced by our domestic bank working in close cooperation with colleagues from the other banks of the Group, in this case UniCredit Bank Austria AG. This allows us to provide optimal conditions for the company," commented Vadim Aparkhov, Director of UniCredit Bank's Corporate Clients Department.