METALLOINVEST FINANCE DESIGNATED ACTIVITY COMPANY (FRA:XS091829) Metalloinvest Finance Designated Activity Company: Metalloinvest announces ECA backed financing deal under the existing framework agreement
Transparency directive : regulatory news
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Metalloinvest Finance Designated Activity Company (IRSH)
Metalloinvest announces ECA backed financing deal
Moscow, Russia - 25 June 2020 - 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 signing of an agreement with ING Bank for ECA backed financing in the amount of EUR 11.7 mn. The agreement with ING Bank is concluded under the existing framework agreement signed with twelve international banks in August 2019. The credit line will be used to finance previously incurred expenses under the contract with Danieli Centro Combustion S.p.A. for the equipment supply under the investment project for the construction of the heat treatment facility for hot-rolled steel at OEMK. Insurance cover will be provided by Servizi Assicurativi del Commercio Estero (SACE), the Italian export credit agency. The loan provided under the agreement with ING Bank will be repaid in equal semi-annual payments over the course of 10 years.
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If you have any questions, please contact us: Artem Lavrischev T: +7 (495) 981-55-55, ext. 7243
Anton Troshin Public Relations T: +7 (495) 981-55-55, ext. 7629
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 Holding Company USM LLC. Alisher Usmanov is the major beneficiary of Holding Company USM LLC (49%). |
| ISIN: | XS0918297382 |
| Category Code: | MSCL |
| TIDM: | IRSH |
| Sequence No.: | 72016 |
| EQS News ID: | 1078639 |
| End of Announcement | EQS News Service |
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