21 September 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”), announces that it has secured a €25 million ten-year buyer credit facility (the “Facility”) covered by Euler Hermes Deutschland AG, the German export credit insurance agency (the “ECA”). Deutsche Bank acted as Sole Arranger and Sole Lender of the Euler Hermes-covered loan.
The facility bears an interest margin of 1.95% per annum. The proceeds of the facility will be used to finance the construction of a pulverised coal injection unit (“PCI”) at Yenakiieve Iron and Steel Works by Küttner GmbH & Co. KG., a German industrial manufacturer.
Sergiy Novikov, Chief Financial Officer of Metinvest, commented: “This facility is the first ECA-covered loan secured by our Group, and it is the largest ECA-covered facility provided by Deutsche Bank to a Ukrainian company to date. It will enable us to proceed with the construction of the PCI unit which is a key part of our technological upgrade programme.”
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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: Steel and Mining Divisions and has a strategic vision to become the leading vertically integrated steel producer in Europe, and to deliver sustainable growth and profitability resilient to business cycles and providing investors with returns at above the industry benchmarks. The Group generated US$3.2billion of revenues and a 16.7% EBITDA margin for the first quarter 2012.
The major shareholders of the Company are METINVEST B.V. (a holding company of Metinvest Group) are SCM Group (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