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Interpipe – export and PXF financing
23 March 2009
Dual approach secures record funding
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Citi
Barclays Capital
Sace
Interpipe
Clifford Chance
Danieli pre-export
Ukraine
PXF. steel
The financing arranged for Ukraine's Interpipe, one of the world's leading producers of steel pipes and railroad wheels, in April 2008 is particularly innovative in its combination of ECA-backed export financing and pre-export financing. Arranged jointly by Citi and Barclays Capital, the deal totaling $531 million is one of the largest investments ever made in the country and stands firmly as a landmark financing not only in that market but as a prime example of using export finance and PXF to reach required investment levels.
The transaction combines a $344 million export credit facility backed by the Italian export credit agency (ECA) Sace and a $187 million PXF...
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