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Saturday, May 27, 2017

Acron finance facility agreement finalized

In a recent announcement made by Rosbank, a subsidiary of Societe General Group, the group took a main part in a $525 million loan agreement to build a pre-export financing facility for Acron.

Rosbank as a part of the group acted as bookrunners, coordinating lead arrangers and documentation agents to finalize the loan agreement. It will be used to pay off a Bridge Term Loan Facility that was signed in April 2014.

Banks that are included in the group, and that played a part in this agreement include: HSBC Bank, the Luxembourg branch of Bank of China Ltd.and AO Unicredit Bank.

“The successful completion of this deal is a great achievement in the current challenging market environment and is a result of an outstanding team work between Acron and the Mandated Lead Arrangers," Rosbank Deputy Chairman of the Management Board, Ilya Polyakov said. "This structured pre-export finance facility in favor of Acron brings together a syndicate of European, Chinese and Russian banks.

"Societe Generale Group’s coordinating role in the arrangement of this benchmark transaction proves the importance of long-term relationship with our key clients and confirms our worldwide structured commodity finance expertise.”

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