OREANDA-NEWS. On April 18, 2016, Sberbank CIB with participation of CIB team at the Uralsky Bank completed a deal under which a Sberbank Group subsidiary that is part of the Sberbank CIB Block performed prepayment for copper products of Russian Copper Company Group (RCC) worth USD 100 mln.

The deal is an export contract that allows RCC Group to receive an advance payment (prepayment) totalling USD 100 mln in order to replenish its working capital and refinance the Group's liabilities. The advance will be repaid using revenue from the sales of physical metal over a period of three years, taking into account the grace period. The total volume of copper product deliveries under the three-year export contract amounts to USD 170 mln.

"Russian Copper Company Group is one of the leading copper producers in Russia and a long-time partner with whom we have completed a number of major deals. It completed 2015 - a challenging year for the metals and mining industry - with healthy financial indicators, having boosted rouble revenue by 38% and recorded good profits. We value our partnership and are certain that this deal will serve to further develop the relationship between our companies," commented Yan Veytsman, Managing Director, Head of the Metals & Mining Division in Sberbank CIB's Client Management Department.

RCC Group is Russia's third largest copper company (in 2015 the production of copper cathode equivalent amounted to 196,000 tonnes). RCC Group produces a wide range of copper products, bullion, and zinc concentrate