Clifford Chance

Clifford Chance advises banks on the EUR200 million syndicated facility for Ural Mining Metallurgical Company

Clifford Chance has advised a syndicate of banks on a EUR200 million facility for Ural Mining and Metallurgical Company (UMMC), a leading Russian producer of copper, zinc and other precious metals.

The financing was provided by a syndicate of leading international and Russian banks: AO Raiffeisenbank (acted also as documentation agent and facility agent), Banca Intesa, Bank ICBC (JSC), Joint-Stock Commercial Bank “Bank of China (Russia)”, International Investment Bank, PJSC ROSBANK (Societe Generale group), RCB Bank Ltd, China Construction Bank (Russia) Limited and PJSC "Sovcombank".

The 4-year unsecured loan facility provides for an up to EUR300 million increase option . The deal was executed under Russian law in the standardized form for a syndicated facility agreement.

The funds will be used to refinance current corporate debt and for working capital purposes.
UMMC operates more than 40 companies in various industries located in different regions of Russia. It is the largest metal zinc producer in Russia and the second-largest coal producer by volume.

The Clifford Chance team advising on the matter included banking & finance partner Vladimir Barbolin and associate Ksenia Mikhaylova.