Ukraine’s Metinvest cuts deal size as bank liquidity dries up
A refinancing deal for Metinvest will be smaller than the loan of up to $1.2bn the Ukrainian steelmaker initially sought. It has raised over $950m but has not decided whether to sign at that level or take $850m and allow the senior group to scale back their commitments.
Co-ordinator Deutsche Bank recruited BNP Paribas, ING, Natixis, WestLB and UniCredit to join the senior group in early July. RBS was also in the group but dropped out the same month.
The borrower launched the deal in early summer before the eurozone debt crisis had taken a toll on
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