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TENEX Draws Down New Syndicated Loan

Published 09 November 2015 | By TENEX

TENEX has completed the drawdown of a US$300 mln pre-export syndicated loan facility provided by Deutsche Bank AG, JSC Nordea Bank, and Société Gеnеrale. At the end of June 2015, the Company received the final tranche under the loan syndication transaction.

Granted for a term of three years, the loan carries an annual interest of Libor +3.85%. The arranger of the deal, Deutsche Bank, also acts as the facility and security agent, with Rosbank appointed as the passport bank.

The funds obtained are primarily intended to be used for general corporate purposes.

The previous syndicated loan, worth US$500 mln, was extended to the Company in 2011.