A lending syndicate that included Sovcombank as a mandated lead arranger closed a $1 billion credit facility for KAZ Minerals.

The transaction has been structured as a four-year pre-export financing. The facility documentation bears an option for an up to two years tenor increase. The raised funds will be used for general corporate purposes and trade financing purposes.

The financing was provided by a syndicate of financial institutions with Sovcombank being the only private Russian bank among the participants.

The mandated lead arrangers are Deutsche Bank, ING Bank, Société Générale, ABN AMRO Bank, Bank of China, Crédit Agricole and Investment Bank, Credit Suisse, ICBC London, Natixis and Sovcombank.

Other lenders in the facility are Bank of Montreal, DZ Bank, Intesa SanPaolo, Mizuho Bank, Sumitomo Mitsui, HSBC, KFW Ipex-Bank, Raiffeisen Bank International and Citibank.

The legal support under the transaction was provided by the international legal companies Hogan Lovells and Linklaters.

KAZ Minerals is a copper company focused on large scale, low cost open pit mining in Kazakhstan.