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Morgan Lewis Advised Natixis in US$300 million Financing for TOO Aktyubinskaya Mednaya Kompaniya

December 28, 2020

MOSCOW, December 28, 2020: Morgan Lewis advised Natixis S.A., a corporate and investment bank, leading a syndicate of 11 major European and Russian banks, in their US$300 million agreement with TOO Aktyubinskaya Mednaya Kompaniya, a Kazakh company of Russian Copper Company Group*, one of the leading producers of copper. This cross-border transaction involved various jurisdictions including France, Kazakhstan, the Russian Federation, Cyprus and England and Wales.  

Natixis is acting as Coordinator, Facility Agent, Security Agent, Joint Bookrunning Mandated Lead Arranger, and Original Lender in this deal. Natixis offers corporate, investment and financial services to companies, financial institutions and institutional investors.

Grigory Marinichev and Alexander Geda from the Morgan Lewis Moscow office led the multi-jurisdictional team on this deal.

* Russian Copper Company is a vertically integrated copper-producing group. Its activities range from copper mining to production and sales of copper products and precious metals in bars.

RCC was founded in 2004. The group includes over 30 enterprises in the Novgorod, Orenburg, Sverdlovsk, Chelyabinsk Regions and the Khabarovsk Krai in Russia and the Aktyubinsk Region in Kazakhstan. Among them are three metallurgical plants, a hydrometallurgical plant, eight mining enterprises and a trading company.

RCC owns 27 licenses for exploration and mining of mineral resources in Russia and Kazakhstan. As of 1 January 2020, its copper proven reserves (JORC) amounted to 4,677 Kt (2P: 6,408 Kt). In 2019, RCC Group produced 215.5 Kt of copper in cathode equivalent (including 184.8 Kt of copper cathodes), 98 Kt of Zn in zinc concentrate, 80 Koz (2.5 tons) of gold and 2.0 Moz (61 tons) of silver.