18 April 2012
Metinvest B.V., a parent company of the international vertically integrated steel and mining group of companies (jointly referred to as “Metinvest”), today announced that it has mandated Deutsche Bank AG (“Deutsche Bank”) as the Coordinating Mandated Lead Arranger and Bookrunner to secure a Syndicated Structured Pre-Export Finance Facility (the “Facility”), the proceeds of which will be used to fund the working capital and capital expenditure of the Group.
The Facility will pay a margin of Libor + 4.75 per cent, and will carry a grace period of one year to be followed by twenty four monthly instalments of equal value.
Sergiy Novikov, Chief Financial Officer of Metinvest, commented: «We have been delighted by the positive response of the financial community to our fund raising efforts over the past year, and are confident that they will repose their confidence in us by responding favourably to our latest pre-export finance facility. With our ambitious modernisation programme well on track to deliver progress, the proceeds of this facility will be used to fund the working capital of the Group, and contribute towards our capital expenditure programme for 2012.»
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Metinvest is an international vertically integrated steel and mining group of companies, managing every link of the value chain, from mining and processing iron ore and coal to making and selling semi-finished and finished steel products. The Group comprises steel and mining production facilities located in Ukraine, Europe and the USA and has a sales network covering all key global markets. Metinvest Group is structured into two operating divisions: Metallurgical and Mining Divisions and has a strategic vision to become the leading vertically integrated steel producer in Europe, delivering sustainable growth and profitability resilient to business cycles and providing investors with returns at above the industry benchmarks. The Group generated US$ 14.2 billion of revenues and a 25.1% EBITDA margin for the full year 2011, ended 31 December 2011.
The major shareholders of the Company METINVEST B.V. (a holding company of Metinvest Group) are SCM Group (71.25% ownership) and Smart-Holding (23.75% ownership) partnering in Company’s management.
METINVEST HOLDING, LLC is the managing company of Metinvest Group.
For further information, please, visit www.metinvestholding.com
Investor contact:
Andriy Bondarenko
Investor Relations Manager
+38 062 388 16 24
ir@metinvestholding.com