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6 August 2010

Asters advises Sberbank on a USD 700 million syndicated loan to Metinvest

Asters has acted as a legal advisor to the Savings Bank of the Russian Federation on security matters under Ukrainian law pertaining to a syndicated financing in the amount of USD 700 million extended to Metinvest. The relevant facility was signed on 23 July 2010. The funds raised will be utilized to further modernize Metinvest's assets along with other corporate purposes.

Sberbank closed the facility as Arranger and a party to the syndicated financing of Metinvest. The facility is led by Deutsche Bank AG as Coordinator, Facility Agent and Security Trustee. The following banks participate in the syndication together with Sberbank: BNP Paribas (Suisse) SA, ING Bank N.V., NATIXIS, WestLB AG, Gazprombank (Open Joint-stock Company), ERSTE GROUP BANK AG, Open Joint-Stock Company "ALFA-BANK", Deutsche Bank AG, Raiffeisen Zentralbank Österreich Aktiengesellschaft, VTB Western Europe Subgroup (VTB Bank (Austria) AG, VTB Bank (Deutschland) AG, VTB Bank (France) SA) and Credit Suisse.

As further mentioned in the press release of Metinvest, according to the data provided by Thomson Reuters Loan Pricing Corp. (LPC) this is the largest loan facility to be secured by a Ukrainian private business for the last two years.

Metinvest is an international vertically integrated mining and steel group of companies, representing a group of the largest mining and steel companies of Ukraine. The major shareholders of Metinvest are SCM Group (75% ownership) and Smart-Holding (25% ownership) partnering in company's management. METINVEST HOLDING, LLC is the managing company of Metinvest Group.

Asters' banking and finance team advising on the transaction was led by senior partner Armen Khachaturyan, partner Iryna Pokanay and included associate Gabriel Aslanian.

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