OREANDA-NEWS. On 19 May 2008 was announced, that Siberian Coal Energy Company (SUEK) has secured a USD 800 million syndicated loan facility. The syndication closed on April 30, 2008 through a syndicate of international lenders led by Societe Generale Corporate and Investment Banking, Banque Societe Generale Vostok, Barclays Capital (investment banking division of Barclays Bank PLC), BNP Paribas (Suisse) SA, CALYON, ING Wholesale Banking, Raiffeisen Zentralbank Oesterreich AG, as well as Sumitomo Mitsui Banking Corporation Europe Limited. Societe Generale Corporate and Investment Banking acted as Lead Arranger, with ING Wholesale Banking as Facility Agent.

The loan will be disbursed in two tranches - the first of USD 533.3 million with maturity of three years at LIBOR+140 basis point, and the second of USD 266.6 million with maturity of five years at LIBOR+150 basis points during the first two years, LIBOR+160 during the third year, and LIBOR+170 for the fourth and fifth year.
The facility will be used primarily for financing of acquisitions in power engineering and refinancing of existing debt. The borrowings under the syndicated loan facility are secured by the company's export revenues.