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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5 MUFG 139,823.02 889 4.18%

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5 SG Corporate & Investment Banking 31,187.44 119 5.15%

Syndicated Loan Revenue - EMEA

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3 ING 31.21 74 5.90%
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5 Deutsche Bank 21.89 32 4.14%