Metalloinvest Finance Designated Activity Company (IRSH)
Moscow, Russia - 11 January 2018 - Metalloinvest ("the Company"), a leading global iron ore and HBI producer and supplier, and one of the regional producers of high-quality steel, has signed an agreement with a club of banks for a USD 240 mn pre-export finance facility (the "PXF-2018"). New PXF has 5-year tenor with a 4-year grace period, interest rate is linked to LIBOR.
The purpose of PXF-2018 is to refinance all existing USD-denominated debt of the Company due in 2018-2019 and to improve maturity profile and costs of borrowings. Disbursement of funds will be effected after completion of certain typical conditions precedent.
The deal was supported by eight financial institutions from Europe and Russia.
# # # #
For more information, please contact:
T: +7 (495) 981-55-55
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. Alisher Usmanov is the major beneficiary of USM Holdings (49%), with other major beneficiaries being the companies of Vladimir Skoch (30%) and Farhad Moshiri (10%).
|End of Announcement||EQS News Service|