Societe Generale and subsidiary Rosbank announced recently that the banks acted as chief organizers of a five-year $425 million credit to Evraz NTMK (Nizhny Tagil Metal Works) and Evraz ZSMK (West-Siberian Metal Works), part of the Evraz holding company.
The companies will use the funds to refinance existing debt.
"The participation of Societe Generale Group in the organization of a syndicated loan to Evraz subsidiaries confirms our commitment to the Russian market and the attention we pay to our long-term cooperation with our clients," Ilya Polyakov, Deputy Chairman of the Management Board of Rosbank and Head of Coverage and Investment Banking for Russia/CIS at Societe Generale, said.
The loan will be paid off in equal installments after a period of 24 months. The credit facility guaranteed by the Evraz holding company.
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