Capital Markets

Starting from 2011, Metalloinvest has been raising funds on capital markets, in line with its strategy to increase the share of long-term and public debt and diversify the sources of financing.

In March 2014, Metalloinvest closed a deal to obtain a pre-export finance facility (PXF) from a club of international banks for the total amount of USD 1,150 million and to repay the previous syndicated loan.

The PFX was divided into two tranches: the first tranche in the amount of USD 300 million will be repaid in a lump sum in March 2016; the second tranche in the amount of USD 850 million will be repaid on a monthly basis in equal installments from April 2016 to March 2019. Both tranches have floating interest rates linked to LIBOR.

The coordinators and book-runners were Deutsche Bank Amsterdam branch, ING Bank NV and Société Générale. The main arrangers of the deal were CJSC UniCredit Bank, BNP Paribas (Suisse) SA and Crédit Agricole Corporate and Investment Bank. Bank of Tokyo-Mitsubishi UFJ Ltd and Credit Suisse AG also took part in the organisation of the deal.

The previous syndicated loan of USD 3.1 billion was raised by Metalloinvest in April 2011. The Company repaid, before the maturity date, a portion of the loan equal to USD 700 million in the first half of 2012, and USD 1,250 million — in the first half of 2013.

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