MKB participates in syndicated loan to UMMC
Credit Bank of Moscow (MKB, Region-Rossium Group) together with AO Raiffeisenbank, PJSC Sberbank and Bank "Saint-Petersburg" PJSC have syndicated a RUB15 bn loan facility for UMMC under the Russian law. The facility was coordinated by AO Raiffeisenbank, also acting as the documentation and facility agent.
The deal was structured as a 5-year syndicated loan. Clifford Chance CIS Limited Moscow office acted as the legal advisor to the lenders.
"UMMC is our partner of strategic importance. Our long-standing relationship enables us to find the right solutions and to provide most comfortable banking terms for our customer's projects," underlined Alexander Afonin, Director of MKB's Market Industry Coverage Department.
“This is the fourth executed project supported by our partner AO Raiffeisenbank with whom we have been cooperating for many years. As before, AO Raiffeisenbank acted as the arranger of the transaction, pooling together our foreign and Russian partners. It is worth mentioning that the Russian currency and the Russian law were intentionally applicable to this syndicated loan Furthermore, we have enhanced our strategic partnership with Russian banks that have leading positions in the syndicated loan market in Russia. We highly appreciate the trust and highlight the professionalism of AO Raiffeisenbank team arranging the facility and our Russian partner banks - Credit Bank of Moscow, Sberbank and Bank Saint Petersburg - supporting us with many other projects,” commented Andrey Kozitsyn, CEO of UMMC.