Press Room

Metalloinvest announces a new EUR 200 mn credit line

3 December 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-2019/2”) with a club of 7 international banks.

The new PXF-2019/2 amounts to EUR 200 mn and has a 6.5 year tenor with a semiannual amortisation after the grace period set at 5.5 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 parameters of the Company’s loan portfolio, including through enhancement of the maturity profile, diversification of foreign currency liabilities and a reduction in borrowing costs.

Alexey Voronov, Finance Director of Management Company Metalloinvest, commented: “This loan has the longest maturity for the pre-export financing ever attracted by the Company from international banks. Further, the parties intend to link the loan pricing to the sustainable development indicators.”

Stephanie Clement de Givry, Global Head of Metals and Mining at Societe Generale, commented: “We are delighted to continue demonstrating SG support to Metalloinvest with the closing of a new EUR 200 million syndicated facility. This facility is another groundbreaking transaction for Metalloinvest in terms of tenor and conditions showing one more time that the bank market recognize the high quality of the company. Metalloinvest’s stated intention to convert this facility into a sustainability financing brings another dimension to this financing and underlines the company’s strong commitment to long term sustainability and responsibility.”

Maarten Koning, Global Head Structured Commodity Finance at ING, said: “Metalloinvest once again proves its reputation for being a market leader in the CIS PXF space with this new 6.5 year loan. A further testament to the strong rapport Metalloinvest has with their relationship banks, is that execution time was short and there was no room for error from either side. ING is proud to have acted as documentary agent for the second time in a row, displaying our close partnership.”

Artem Lavrischev

Artem Lavrischev

Director of Investor Relations & Corporate Ratings Department
E-mail: ir@metalloinvest.com
Tel.: +7 (495) 981-55-55

For more information, please contact the Investor Relations Department:

 
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