Metalloinvest opens new credit lines for refinancing purposes
Moscow, Russia - 20 August 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 opening of two credit lines in the amount of RUB 20 bn.
In line with its Debt Management Strategy, the Company has entered into new loan agreements with Gazprombank and Sberbank, according to which the banks opened two credit lines of RUB 10 bn each. Both credit lines mature in 2026.
The Company plans to use these credit lines in order to partially refinance and improve the commercial terms of its loan portfolio.
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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%).