Mikhailovsky GOK completed syndication of western banks loan.

ОАО Mikhailovsky GOK has completed the syndication of the three-year term loan facility of western banks to the extent of US$200 million, Company reported to AK&M. The loan carries an annual interest rate of Libor+3.5 percent. Among the lead-managers are Commerzbank Aktiengesellschaft and BNP Paribas SA. Mikhailovsky GOK is the biggest Russian enterprise engaged in the production of ironstone. The reserves of Mikhailovsky iron mine amount to over 11 billion tones. Company's revenue last year was 23.6 billion rubles, net income came to 6.9 billion rubles.

• Full name
  PJSC Mikhailovsky GOK
• Registration country
  Russia
• Industry
  Mining industry