Moscow, Russia - 20 August 2018 - 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 a change in the terms of its pre-export finance facility ("PXF-2017") signed in May 2017 with a syndicate of international and Russian banks.
The changes relate to the USD 800 million tranche A and envisage a reduction in the interest rate margin linked to LIBOR, as well as an extension of the debt maturity from 2020-2022 to 2021-2023. It is expected that the changes to the additional credit agreement will come into force after the fulfilment of a range of standard conditions precedent.
The terms of tranche B under the PXF-2017 agreement have remained unchanged: the USD 250 million tranche with a maturity period in 2022-2024.
More information about the PXF-2017 can be found here:
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For more information, please contact:
Director of Investor Relations and Corporate Ratings
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 Holding Company USM LLC. Alisher Usmanov is the major beneficiary of Holding Company USM LLC (49%), with other major beneficiaries being the companies of Vladimir Skoch (30%) and Farhad Moshiri (8%).