Metalloinvest Finance Designated Activity Company: Metalloinvest announces the first financial deal with the International Bank for Economic Co-operation

Metalloinvest Finance Designated Activity Company (IRSH) 
Metalloinvest Finance Designated Activity Company: Metalloinvest announces 
the first financial deal with the International Bank for Economic 
Co-operation 
 
19-May-2020 / 10:38 MSK 
Dissemination of a Regulatory Announcement, transmitted by EQS Group. 
The issuer is solely responsible for the content of this announcement. 
 
              Metalloinvest announces the first financial deal 
           with the International Bank for Economic Co-operation 
 
     Moscow, Russia - 19 May 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 a credit 
            line at the International Bank for Economic Co-operation (IBEC). 
 
        The new committed credit line in the amount of up to EUR 40 mn has a 
     repayment within 7 years and a grace period of 5 years. The utilisation 
   period under the agreement is 3 years. The interest rate is fixed for the 
  entire loan period. The funds will be used to finance expenditures related 
                                      to the import of production equipment. 
 
       Alexey Voronov, Finance Director of Management Company Metalloinvest, 
                                                                  commented: 
 
  "We are glad to begin cooperation with IBEC. This is the first deal with a 
 supranational financial institution for the company. It gives access to new 
     financing capacities and creates an additional source of liquidity. Its 
         special feature is a combination of long-term nature and attractive 
                                                     commercial conditions." 
 
                          Peter Osvald, member of the IBEC Board, commented: 
 
  "For the Bank, this deal is attractive not only for commercial reasons. We 
       got a stable company of international level, with ambitious plans and 
    long-term prospects as a client. For IBEC, which is undergoing a renewal 
         process, it is important to attract partners of such a high level." 
 
# # # # 
 
                                       For more information, please contact: 
 
Artem Lavrischev 
Director of Investor Relations and Corporate Ratings 
 
E: [e-mail] 
 
T: [phone], ext. 7243 
 
Anton Troshin 
 
Director of Corporate Communications Department 
 
E: [e-mail] 
 
T: [phone], 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%). 
 
    IBEC is a multilateral development bank committed to economic growth and 
  sustainable development of the bank's member countries: Bulgaria, Vietnam, 
         Mongolia, Poland, Russia, Romania, Slovakia and the Czech Republic. 
 
ISIN:          XS0918297382 
Category Code: MSCL 
TIDM:          IRSH 
Sequence No.:  64580 
EQS News ID:   1050301 
 
End of Announcement EQS News Service 
 
 

(END) Dow Jones Newswires

May 19, 2020 03:38 ET (07:38 GMT)