METALLOINVEST FINANCE DESIGNATED ACTIVITY COMPANY (FRA:XS091829) Metalloinvest Finance Designated Activity Company: Metalloinvest extends reserve credit lines and develops green finance
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Metalloinvest Finance Designated Activity Company (IRSH)
Metalloinvest extends reserve credit lines and develops green finance
Moscow, Russia - 13 July 2020 - 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 additional agreements with ING Bank on the extension of two credit lines for a total amount of USD 200 mn (or EUR equivalent). Following additional agreements, the reserve credit lines will be valid for 3 years. The interest rate of one of the credit line in the amount of USD 100 mn (or EUR equivalent) will remain linked to the change in the Company's Corporate Social Responsibility (CSR) rating from EcoVadis, the international independent rating agency. Alexey Voronov, Deputy CEO - Chief Financial Officer of Management Company Metalloinvest, commented: "The extension of the existing credit agreements with ING Bank provides an additional long-term source of liquidity in USD and/ or EUR in the amount of up to USD 200 mn. At the same time, one of our credit lines worth USD 100 mn will remain linked to changes in our CSR rating, being actually a green finance. We expect that the Company's efforts on improving sustainable development practices will allow us to enhance the conditions of our loan portfolio in future."
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If you have any questions, please contact us: Artem Lavrischev 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 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.: | 75258 |
| EQS News ID: | 1092013 |
| End of Announcement | EQS News Service |
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