ChelPipe Gets 2nd International Syndicated CL Tranche

UrBC, Yekaterinburg, October 1, 2018. Russia’s leading pipe manufacturer and integrated oilfield solutions supplier ChelPipe Group reports a second installment of money has been received as part of the syndicated credit line opened to the company by a club of six major international banks in December 2017.

According to the company’s press service, the second tranche ($24m and ˆ10m, to be repaid within the next four years) got provided by ICBC Bank, Banca Intesa, Commerzbank (Eurasia), PAO Rosbank, and Agricultural Bank of China. Raiffeisenbank acts as the facility agent in the case. The interest rate on the new tranche comes to EURIBOR +1,4%a year for the Euro portion and to LIBOR +1,8% a year for the U.S. dollar one.

It was reported earlier that the overall loan would comprise a bi-currency credit line in two installments, $35m and ˆ65m in the first one (the overall amount might rise by up to $40m and ˆ10m).

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