Suek disproves doubters as loan set to be oversubscribed

Russia's Siberian Coal Energy Co (Suek) is in the documentation stage of a $1.2bn pre-export finance (PXF) facility that has shrugged off market scepticism to attract large enough commitments that bankers expect to be scaled back.

  • By Michael Turner
  • 08 Jan 2014

The five year facility attracted a large group of banks at the top level. As well as an expected reduction of lenders' commitments, the deal amount has been increased.

Suek faced some harsh criticism from lenders when it approached the market for the deal in November 2013. Lenders complained ...

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