Metalloinvest announces new EUR 300 mn credit line agreement with banks
Moscow, Russia - 19 September 2019 - Metalloinvest ("the Company"), a leading global iron ore and HBI producer and supplier, and one of the regional producers of high-quality steel, today announces the opening of a new credit line for pre-export financing (the "PXF-2019") with a club of international and Russian banks.
The PXF-2019 loan amounts to EUR 300 mn and has a 4.25 year tenor with a quarterly amortisation after the grace period set at 3.75 years. The interest rate is fixed for the entire loan period.
The agreement has been reached in accordance with the Company's Debt Management Strategy. After disbursement, the funds will be used to improve the commercial terms of the Company's loan portfolio, including through enhancement of the maturity profile, diversification of foreign currency liabilities and a reduction in borrowing costs.
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For more information, please contact:
Artem Lavrischev
Director of Investor Relations and Corporate Ratings
E: ir@metalloinvest.com
T: +7 (495) 981-55-55, ext. 7243
Metalloinvest is a leading global iron ore and merchant HBI producer and supplier, and one of the regional producers of high-quality steel. The Company has the world's second-largest measured iron ore reserve base and is one of the lowest-cost iron ore producers.
Metalloinvest is wholly owned by USM Holdings. The main beneficiaries of USM Holdings are Alisher Usmanov (49%) and Vladimir Skoch (30%).