Metalloinvest Finance Designated Activity Company (IRSH)
Moscow, Russia - 13 June 2018 - Metalloinvest ("the Company"), a leading global iron ore and merchant HBI producer and supplier, and one of the regional producers of high-quality steel, has signed long-term credit facility agreement with CRÉDIT AGRICOLE CIB guaranteed by export credit agency (ECA), provided by Euler Hermes Aktiengesellschaft (Germany).
The 12-year funds of EUR 72 mn will be used to purchase the equipment of TAKRAF GmbH (Germany) for the implementation of investment project at Lebedinsky GOK (part of Metalloinvest) - construction of a cyclical and continuous transportation system for open pit mine.
The project anticipates operational efficiency improvement of open pit development and decrease in production costs of iron ore concentrate.
Disbursement of funds will commence after completion of certain typical conditions precedent.
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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 (9%).
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