UC RUSAL mandates banks to arrange USD 2 bln facility

The bookrunners of the facility will be ABN AMRO, BNP Paribas, Calyon, Citi and Natixis. ABN AMRO will act as the facility agent, the documentation agent and the security agent, while Natixis will take the responsibilities of the off-take agent. Affiliates of ABN AMRO, BNP Paribas, ING and Societe Generale will share the roles of passport banks on shore in Russia.

The facility has a tenor of 7 years and will be amortised after a 2-year grace period. It is secured by commodity receivables on the basis of a buy-back off-take. The syndication is expected to commence shortly.