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Metalloinvest Finance Designated Activity Company

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DGAP-UK-Regulatory News vom 23.06.2017

Metalloinvest announces refinancing of PXF faciilities

Metalloinvest Finance Designated Activity Company / Miscellaneous - Medium Priority

23-Jun-2017 / 11:00 CET/CEST
Dissemination of a Regulatory Announcement, transmitted by EquityStory.RS, LLC - a company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


Moscow, Russia - 23 June 2017 - Metalloinvest ("the Company"), a leading global iron ore and HBI producer and supplier, and one of the regional producers of high-quality steel, has completed the refinancing of existing pre-export finance facilities amounting to USD 1.03 bn. The refinancing took place using funds obtained through a new pre-export finance facility (the "PXF-2017"), which was provided with a syndicate of international banks under the terms of the deal announced on 5 May 2017. As a result, the Company has improved its debt maturity schedule and reduced debt servicing costs.

The PXF-2017 includes a USD 800 mn five-year tranche to be redeemed in 2020-2022 and
a USD 250 mn seven-year tranche to be redeemed in 2022-2024. Both tranches have floating interest rates linked to one-month LIBOR.

The Company's two recent debt management transactions, the PXF-2017 and Eurobond-2024 issue, reduced the Company's debt payments due in the period 2017-2020 by almost half to USD 1.7 bn from USD 3 bn as at the end of 2016.


 

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For more information, please contact:
Artem Lavrischev
Director of Investor Relations and Corporate Ratings
E: [email protected]
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%).



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