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HSBC Arranged USD 300 Million Structured Credit Facility for Acron

HSBC acted as Mandated Lead Arranger and Sole Bookrunner on a USD 300million five-year term loan structured credit facility for Acron. The facility carries an interest of one-month LIBOR+4.95% and will be used towards working capital, general corporate purposes and refinancing the company’s existing financial indebtedness.

The loan is to be repaid by equal monthly installments following a 6-month grace period effective the day of credit facility signing.

The deal is structured based on a pre-export financing scheme. HSBC is a Facility agent bank, Security agent and the major lender.

During successful syndication process HSBC attracted such lenders as ING Bank N.V., Natixis, Intesa Sanpaolo London branch, ICBC (London) plc, ZAO Industrial and Commercial Bank of China (Moscow) and Rosbank (OSJC JSCB).

Chris Hurd, Head of Global Banking, HSBC Russia, points out: “This deal marks an important step in the growing cooperation between Acron and HSBC. We are pleased with the level of bank participation in the syndicate and to be able to provide Acron with its 2012 financing needs”.

“Acron continues to diversify its credit portfolio through various types of credit instruments. We are glad that one of the world’s leading financial institutions, HSBC, will be our partner in this major transaction. This is another proof that Acron Group is a reliable borrower and responsible client,”- said Acron’s Senior Vice President Oscar Valters.