Sat, Jul
54 New Articles

Clifford Chance Advises Far East and Arctic Development Fund on RUB 5.7 Billion Facility for Polymetal

Clifford Chance Advises Far East and Arctic Development Fund on RUB 5.7 Billion Facility for Polymetal

  • Smaller Small Medium Big Bigger
  • Default Helvetica Segoe Georgia Times

Clifford Chance has advised the Russian Far East and Arctic Development Fund on a loan of RUB 5.7 billion (approximately USD 80 million) for the Amur hydrometallurgical plant, a subsidiary of Polymetal.

The Far East and Arctic Development Fund JSC is a subsidiary of the State Corporation VEB.RF – the Bank for Development and Foreign Economic Affairs. The fund facilitates the inflow of investments by providing preferential and long-term financing for prioritized investment projects.

According to Clifford Chance, “the proceeds will be used to partially finance the construction of the second stage of the Amursk pressure oxidation plant POX-2 in 2020-2021. POX-2 capital expenditures until the end of 2020 are estimated at approximately USD 100 million, while the total investments remaining until the end of the construction are expected to amount to USD 312 million. The loan has the tenor of ten years and a 5% fixed rate.”

Clifford Chance’s team included Partner Vladimir Barbolin, Counsel Ella Omelchenko, and Senior Associates Elena Dmitrieva and Arina Skrebkova.

Russian Knowledge Partner

Founded in 1993, Egorov Puginsky Afanasiev & Partners is the leading full-service law firm in the CIS with offices in Russia, Ukraine and Belarus and associated offices in the UK, the USA and Cyprus.

We advise its clients in many areas of law, including: dispute resolution in Russia and abroad, corporate law, M&A, antitrust issues, project finance and PPP, restructurings and insolvencies, energy and natural resources, property management and privatization, environment, technical regulation and industrial safety, banking and finance, intellectual property, criminal law, real estate and construction, taxation, family and labour disputes, marine and transport law, and international trade and customs.

We combine high academic qualifications, internationally acknowledged moral and ethical values, senior partners' professional experience and practical abilities with the vigour and knowledge of younger attorneys that enables thus providing clients with reliable, first-class service according to both Russian and western standards through a flexible structure.

All News about, and Legal Analysis by, Egorov Puginsky Afanasiev & Partners can be found here.

Firm's website: www.epam.ru


Our Latest Issue