Borets II

completed

Borets International Limited (“Borets” or the “Company”) is one of the leading ESP (“Electronic Submersible Pump”) manufacturers globally and market leader in Russia. The Company designs and manufactures pumps, motors and cable used in artificial lift systems and provides a full range of related services, including installation, maintenance and repair, leveraging its extensive research and development, manufacturing and service infrastructure. The Company has 3 manufacturing operations in the USA, Canada and Slovakia, and 6 in Russia. A further manufacturing facility is currently being constructed in Russia, Stariy Oskol. The Company also has 18 servicing facilities, 6 in Russia and remaining sales and servicing centers are in the USA, Canada, Venezuela, Congo, Colombia, Serbia, Oman, Brasil, Indonesia, Egypt. Proposed project is to finance long-term corporate funding needs of the Company including (i) working capital and capital expenditure needs of the Company in relation to its international expansion, (ii) refinancing existing IFC and EBRD loans, and (iii) acquisition of shares in Borets.