Metalloinvest Finance Designated Activity Company: Metalloinvest extends reserve credit lines and develops green finance

Metalloinvest Finance Designated Activity Company (IRSH) 
Metalloinvest Finance Designated Activity Company: Metalloinvest extends 
reserve credit lines and develops green finance 
 
13-Jul-2020 / 11:03 MSK 
Dissemination of a Regulatory Announcement, transmitted by EQS Group. 
The issuer is solely responsible for the content of this announcement. 
 
               Metalloinvest extends reserve credit lines and 
 
                           develops green finance 
 
    Moscow, Russia - 13 July 2020 - Metalloinvest ("the Company"), a leading 
      global iron ore and HBI producer and supplier, and one of the regional 
  producers of high-quality steel, has signed additional agreements with ING 
  Bank on the extension of two credit lines for a total amount of USD 200 mn 
                                                        (or EUR equivalent). 
 
 Following additional agreements, the reserve credit lines will be valid for 
   3 years. The interest rate of one of the credit line in the amount of USD 
100 mn (or EUR equivalent) will remain linked to the change in the Company's 
             Corporate Social Responsibility (CSR) rating from EcoVadis, the 
                                    international independent rating agency. 
 
  Alexey Voronov, Deputy CEO - Chief Financial Officer of Management Company 
                                                   Metalloinvest, commented: 
 
  "The extension of the existing credit agreements with ING Bank provides an 
additional long-term source of liquidity in USD and/ or EUR in the amount of 
up to USD 200 mn. At the same time, one of our credit lines worth USD 100 mn 
     will remain linked to changes in our CSR rating, being actually a green 
      finance. We expect that the Company's efforts on improving sustainable 
   development practices will allow us to enhance the conditions of our loan 
                                                       portfolio in future." 
 
                                                                     # # # # 
 
If you have any questions, please contact us: 
 
Artem Lavrischev 
Investor Relations 
 
E: [e-mail] 
 
T: [phone], ext. 7243 
 
    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%). 
 
ISIN:          XS0918297382 
Category Code: MSCL 
TIDM:          IRSH 
Sequence No.:  75258 
EQS News ID:   1092013 
 
End of Announcement EQS News Service 
 
 

(END) Dow Jones Newswires

July 13, 2020 04:04 ET (08:04 GMT)