SG CIB acted as Mandated Lead Arranger for a USD 1.5 billion pre export financing in favour of JSC Tatneft, the sixth largest oil producer in Russia, based in the Republic of Tatarstan (Russian Federation).
The facility consists of a 3-yr tranche and of a 5-yr tranche. It is secured by oil export contracts involving VITOL as the sole offtaker. It was widely syndicated to a consortium of international and Russian banks, and will be used for general corporate purposes, primarily to provide further financing for the Taneco project, a major refinery and petrochemical complex currently under construction (first refinery built since the USSR era).
GLFI/NAT, acting in close cooperation with BSGV, joined the Facility as MLA with a USD 75 million commitment (reduced to USD 56.5 million due to oversubscription).