Support The Moscow Times!

Metalloinvest $1.2Bln Loan

LONDON &mdash Metalloinvest agreed on terms for a $1.2 billion pre-export finance loan, according to a person involved in the deal.

Metalloinvest will pay an initial interest margin of 300 basis points over the London interbank offered rate on the five-year financing, said the person, who declined to be identified because the transaction is private. The margin will be adjusted based on Metalloinvest's ratio of debt to earnings before interest, tax, depreciation and amortization, the person said.

The debt will replace a $1.6 billion term loan signed in July 2008 that paid an initial interest margin of 400 basis points. BNP Paribas and Deutsche Bank are syndicating the deal to a wider group of lenders.

(Bloomberg)

Read more

Independent journalism isn’t dead. You can help keep it alive.

The Moscow Times’ team of journalists has been first with the big stories on the coronavirus crisis in Russia since day one. Our exclusives and on-the-ground reporting are being read and shared by many high-profile journalists.

We wouldn’t be able to produce this crucial journalism without the support of our loyal readers. Please consider making a donation to The Moscow Times to help us continue covering this historic time in the world’s largest country.