OREANDA-NEWS. Sberbank CIB has acted1 as a mandated lead arranger for the provision of a USD 500 mln unsecured term loan facility (“Facility”) from a club of five banks to OJSC Magnitogorsk Iron and Steel Works’ (“MMK” or the “Company”) a leading global steel producer headquartered in Russia.

ING Bank N.V., Nordea, RBI, Sberbank CIB1 and UniCredit acted jointly as MLAs in this transaction. UniCredit Group also performed the role of Coordinator and Facility Agent.

The Facility is structured as a 4-year unsecured term loan facility, including an 18-month grace period. Proceeds will be used for the refinancing of short-term elements of MMK’s credit portfolio and other general corporate purposes.