Petropavlovsk reduces exposure to subsidiary’s debt

A subsidiary of Petropavlovsk has refinanced a $204m loan, with the Russia-focused gold mining company using the exercise to reduce its balance sheet exposure to the debt.

  • By Mike Turner
  • 25 Sep 2018

Hong Kong listed IRC has raised around $240m from a “leading Russian bank”, according to the parent firm.

The funds will go towards repaying an existing bilateral facility from Industrial and Commercial Bank of China plus, associated fees and other financings.

This includes repaying a $30m bridge loan to Petropavlovsk, ...

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4 Mizuho 10,143.48 36 4.62%
5 Wells Fargo Securities 9,286.22 39 4.23%

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1 Abu Dhabi Commercial Bank PJSC 766.21 2 8.47%
5 Standard Chartered Bank 409.06 1 4.52%

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5 BNP Paribas 1,742.18 7 4.38%

Syndicated Loan Revenue - EMEA

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1 HSBC 35.45 69 6.71%
2 BNP Paribas 31.67 78 5.99%
3 ING 31.21 74 5.90%
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5 Deutsche Bank 21.89 32 4.14%