Lenders dig deep for miner Metalloinvest

Deal-hungry lenders submitted commitments larger than the top $150m ticket on offer in an oversubscribed $1.2bn five year loan for Russian steel and mining company Metalloinvest led by BNP Paribas and Deutsche Bank. Generous pricing, which bankers put at 300bp, the promise of plenty of ancillary business and a dearth of large deals from Russia grabbed the attention of lenders.