Metalloinvest Finance Designated Activity Company
Metalloinvest announces a change in the terms of its PXF-2017 credit agreement
Metalloinvest Finance Designated Activity Company (IRSH)
Moscow, Russia – 20 August 2018 – 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 a change in the terms of its pre-export finance facility (“PXF-2017”) signed in May 2017 with a syndicate of international and Russian banks. The changes relate to the USD 800 million tranche A and envisage a reduction in the interest rate margin linked to LIBOR, as well as an extension of the debt maturity from 2020–2022 to 2021–2023. It is expected that the changes to the additional credit agreement will come into force after the fulfilment of a range of standard conditions precedent. The terms of tranche B under the PXF-2017 agreement have remained unchanged: the USD 250 million tranche with a maturity period in 2022–2024. More information about the PXF-2017 can be found here: http://www.metalloinvest.com/en/media/press-releases/131954/ # # # #
For more information, please contact: Artem Lavrischev T: +7 (495) 981-55-55
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%). |
ISIN: | XS0918297382 |
Category Code: | MSCM |
TIDM: | IRSH |
Sequence No.: | 5895 |
EQS News ID: | 715507 |
End of Announcement | EQS News Service |