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: ir@metalloinvest.com
T: +7 (495) 981-55-55, ext. 7243
Anton Troshin
Director of Corporate Communications Department
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%).
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)
© 2020 Dow Jones News
