Techsnabexport raises $500 mln five-year syndicated preexport loan
MOSCOW. Aug 19 (Interfax) - OJSC Techsnabexport, which operates under the Tenex brand on the world market, has raised a five-year syndicated preexport loan worth $500 million, Deutsche Bank, one of the loan organizers, said in a press release.
The loan's rate came to LIBOR+2.25%.
Techsnabexport's parent company, OJSC AtomEnergoProm (Rosatom's holding company, which owns the majority of civil enterprises in Russia's nuclear sector) provided the guarantee on the financing.
This loan is the first transaction for raising preexport financing for the delivery of uranium products. Banks operating on European, Asian and Russian markets displayed considerable interest in the transaction, the press release said.
The Bank of Tokyo-Mitsubishi UFJ, BNP Paribas, Deutsche Bank, Nordea Bank, Rosbank and Societe Generale Corporate & Investment Banking were the loan's leading organizers and bookrunners. ING Bank N.V. and Natixis later joined the deal.
Techsnabexport engages in the export of nuclear materials and provides services to Russian nuclear enterprises. The company's current portfolio of long-term contracts comes to $22 billion.