31 May 2012 // Press centre Metinvest Group
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 secured a US$325 million 3-year pre-export finance facility (the “Facility”) arranged by Deutsche Bank AG, thereby exceeding the initial target level of US$300 million which was set at the launch of the syndication to a group of relationship banks in April 2012. The Facility pays an interest margin of 4.75% per annum over LIBOR.
Deutsche Bank AG acted as Coordinating Mandated Lead Arranger and Bookrunner for the syndication, while ING Bank N. V., Morgan Stanley Bank International Limited, Natixis, Rabobank International and WestLB AG acted as Mandated Lead Arrangers, and ABN Amro Bank N. V. acted as Arranger.
Sergiy Novikov, Chief Financial Officer of Metinvest, commented: «We have carried out a number of successful fund raisings over the past year. We are extremely pleased that — despite the current volatile market conditions — international investors reaffirmed their confidence in the quality of our assets and our development strategy by expressing a high level of interest in our latest capital markets deal. We have managed to secure financing in excess of our initial target, with our facility being oversubscribed. The proceeds of the facility will be used to fund the working capital needs of the Group, contribute towards our capital expenditure programme and for general corporate purposes.»
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METINVEST GROUP is a 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 vertical integrated steel producer in Europe, delivering sustainable growth and profitability resilient to business cycles and providing investors with returns at above the industry benchmarks. In 2011, the Group generated US$14.2 billion of revenues and a 25.1% EBITDA margin. The major shareholders of the Company are METINVEST B.V. (a holding company of Metinvest Group) are SCM Group являются (71.25%) and Smart-Holding (23.75%), 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