Metalloinvest announces partial refinancing of its loan portfolio
Moscow, Russia - 19 April 2019 - 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 partial refinancing of its loan portfolio.
In accordance with the Debt Management Strategy aimed at reducing the finance costs and optimising the credit portfolio maturity, the Company singed a new loan agreement with Gazprombank in the amount of RUB 8.33 bn with a 6-year tenor.
Raised funds are used in full for the early repayment of one of Sberbank loan, which repayment was scheduled for the first quarter of 2020. As a result, the Company has practically zero debt maturities in the period Q2 2019 - Q1 2020.
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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%).