Suek struggles as coal throws another obstacle into Russian market

Suek coal miner Russia from Alamy 230x150
By Mariam Meskin
30 May 2019

Siberian Coal Energy Co (Suek) is set to finally close a loan refinancing next week after a lengthy syndication process that bankers close to the deal blame on a growing number of lenders declining to finance coal-burning activities.

Suek is refinancing part of a $1.5bn pre-export credit facility, originally signed in January 2014 and which matured in January 2019.

A spokesperson from Suek confirmed that the deal, set to close in euros and dollars, will be signed next week, pending corporate approvals from banks involved in the ...

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