More NewsMetalloinvest Mandates BNP Paribas and Deutsche Bank for Pre-export Finance

Metalloinvest Mandates BNP Paribas and Deutsche Bank for Pre-export Finance

Metalloinvest, a large iron ore producer in Europe and Commonwealth of Independent States (CIS), has mandated BNP Paribas and Deutsche Bank to arrange a US$1.2bn syndicated pre-export finance facility. The facility will be used to refinance existing indebtedness, including the US$1.6bn term loan facility signed in July 2008), and for general corporate purposes, including trade finance.

The tenor of the facility is five years and benefits from a margin set on the basis of a debt to earnings before interest, taxes, depreciation, and amortisation (EBITDA) ratio. It is anticipated that the mandated lead arrangers and bookrunners will launch syndication in the second half of February 2011.

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