24.3 C
Belgrade
Supported byspot_img
spot_img

Russia Otkritie Financial Corp Bank raises 185MUSD for gold projects

Member of Europium Groupspot_img
Supported byspot_img

Proceeds will be used to provide financing to the Bank’s corporate clients in the Russian gold mining industry.

Otkritie Financial Corporation Bank has raised a syndicated loan of USD 185 million from a consortium of 10 international banks. The loan will mature in one year with the option to extend it for another year; the interest rate is LIBOR+2.5% p.a.

Proceeds will be used to provide financing to the Bank’s corporate clients in the Russian gold mining industry. The loan is unsecured with the foreign creditors willing to accept the direct risk associated with the provision of the loan to Otkritie FC Bank.

Supported by

“This is the only syndicated loan raised by Russian banks in 2015,” said Managing Director, Head of International Business of Otkritie FC Bank Yuri Lekarev.

“The lenders are banks from Europe, the USA, and Asia, which demonstrates the high level of financial confidence that investors from these regions continue to have in Otkritie FC Bank. Importantly, the funds have been raised on the same terms and conditions as in autumn 2014, despite the deteriorated macroeconomic environment.”

The lenders are UniCredit (acting also as the coordinating bank), AKA Ausfuhrkredit-Gesellschaft mbH, Citi, Commerzbank Aktiengesellschaft, Filiale Luxemburg, Credit Suisse, Harbin Bank, ING Bank, Oversea-Chinese Banking Corporation Limited, Raiffeisen Bank International AG, Societe Generale Group. Commerzbank International S.A. is acting as the Facility Agent.

Otkritie FC Bank has a long-established history of raising international syndicated loans to finance the Russian gold mining industry. Since 2001, the Bank has negotiated 18 loans (including the one in question) totalling USD 2 billion. 12 syndicates have been established.

 

Supported byElevatePR Digital

Related News

Canada Nickel reveals initial resource estimate for Deloro project, underscoring Timmins District prospects

Canada Nickel has announced the initial mineral resource estimate for its Deloro nickel sulphide project, located in Ontario's Timmins-Cochrane mining camp. This estimate marks...

Resouro Strategic Metals unveils extensive resource estimate for Tiros titanium and rare earths project

Resouro Strategic Metals, a recent entrant into Brazil’s rare earths sector, has unveiled a significant resource estimate for its Tiros project located in Minas...

NMMC targets $1 billion investment in 2024 to expand gold production capacity

Navoi Mining and Metallurgical Combine (NMMC), the world’s fourth-largest gold producer and Central Asia’s largest gold miner, has announced an ambitious investment program for...

U.S. and Kazakhstan strengthen energy partnership at 2024 Strategic Dialogue in Astana

On July 18, 2024, the U.S. Department of State and the Department of Energy, in partnership with Kazakhstan’s Ministry of Foreign Affairs and Ministry...
Supported by
Supported by
Supported by
error: Content is protected !!