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Metalloinvest Finance Designated Activity Company (IRSH)
Metalloinvest Finance Designated Activity Company: Metalloinvest announces
the opening of sustainable finance credit line
16-Apr-2019 / 13:08 MSK
Dissemination of a Regulatory Announcement that contains inside information
according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
Metalloinvest announces the opening of sustainable finance credit line
Moscow, Russia - 16 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 signing of a loan
agreement with ING Bank in the amount of up to USD 100 mn (or EUR
equivalent) until 30 November 2020.
The terms of the agreement state that the interest rate of the
'Sustainability Improvement Loan' depends on the level of the Company's
Corporate Social Responsibility (CSR) rating and may be reduced if
Metalloinvest's rating indicators improve.
Alexey Voronov, Finance Director of Management Company Metalloinvest,
commented:
"Sustainable development (ESG[1]) is an integral part of Metalloinvest's
strategy and is essential to the Company's long-term competitiveness. In
2018, Metalloinvest received a debut CSR rating of 'Silver' medal from
EcoVadis, the international independent rating agency.
Today, we are pleased to announce the opening of a sustainable finance
credit line, which is an example of the Company's continued commitment to
sustainable development. In cooperation with ING Bank, Metalloinvest has
become one of the first companies in Russia to sign an agreement of green
finance nature. This credit line stimulates the improvement of the Company's
ESG performance and provides an additional source of liquidity."
Mikhail Chaikin, CEO of ING Bank in Russia, commented:
"We are delighted to complete the first EcoVadis-linked loan in Russia with
Metalloinvest. The Company has put sustainability very high on its strategic
agenda and set an ambition that reflects ING own vision and aspiration. ING
is consistently deploying its international expertise in sustainable finance
to the local market. We are really pleased with an opportunity to offer this
innovative solution and further develop our long-term and constructive
relationship with Metalloinvest".
Notes to editors:
EcoVadis is an independent rating agency specialised in sustainability
performance ratings used in commercial relationships including supply chain,
banking and finance. The EcoVadis methodology is based on international
sustainability and CSR standards including the Global Reporting Initiative,
the UN Global Compact and ISO 26000, applicable to 198 categories in 155
countries. EcoVadis evaluates companies on 21 criteria in four themes:
environment, labor and human rights, ethics and sustainable procurement.
In November 2018, Metalloinvest received its debut CSR rating from EcoVadis.
Following the assessment, the Company was awarded the 'Silver' level of
recognition for its CSR practices. Metalloinvest was placed in the top 11%
of producers rated by EcoVadis globally in the basic iron and steel
manufacturing industry (over 900 companies) and in the top 7% of iron ore
and steel producers rated by EcoVadis globally for environmental work.
In 2018, the Company's investments to minimise the impact of production on
the environment and the costs of environmental protection measures amounted
to RUB 7.2 bn.
# # # #
Contacts for investors:
Artem Lavrischev
Director of Investor Relations and Corporate Ratings
E: ir@metalloinvest.com
T: +7 (495) 981-55-55 (ext. 7243)
Contacts for media:
Anton Troshin
Head of Corporate Communications
E: pr@metalloinvest.com
T: +7 (495) 981-55-55 (ext. 7629)
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%).
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[1] ESG - environmental, social and governance.
ISIN: XS0918297382
Category Code: MSCL
TIDM: IRSH
Sequence No.: 8218
EQS News ID: 799785
End of Announcement EQS News Service
(END) Dow Jones Newswires
April 16, 2019 06:08 ET (10:08 GMT)
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