20 November 2013
Metinvest B.V., the parent company of a vertically integrated group of steel and mining companies (jointly referred to as “Metinvest” or the “Group”), today announced that it has secured a US$300 million five-year pre-export finance facility (the “Facility”).
The Facility was arranged with international financial institutions, and signed on 13 November 2013. It has a grace period of 18 months and carries annual interest of LIBOR+5.25%. The Facility will be used to fund Metinvest’s capital expenditure programme and general corporate requirements.
Deutsche Bank AG (Amsterdam Branch), ING Bank N.V., NATIXIS, PJSC Ukrsotsbank and UniCredit Bank Austria AG acted as Mandated Lead Arrangers; East West United Bank S.A. acted as Arranger. Deutsche Bank AG (London Branch), ING Bank N.V., PJSC Ukrsotsbank and UniCredit Bank Austria AG acted as Bookrunners.
Sergiy Novikov, the Managing Director of Metinvest’s Financing Unit: “We are pleased to see continued interest in the Group from the international financial community, which we view as an endorsement of our conservative financing approach and flexible business model. The attractive financing terms are a further testimony to this. The Facility will allow us to continue optimising our debt portfolio and invest in improving the Group’s efficiency and sustainability, both commercial and environmental.”
- For editors:
Metinvest Group is a vertically integrated group of steel and mining companies that manages every link of the value chain, from mining and processing iron ore and coal to making and selling semi-finished and finished steel products. It has steel and mining production facilities in Ukraine, Europe and the US, as well as a sales network covering all key global markets. Its 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 above industry benchmarks.
The Group reported revenue of USD 3.1 billion and an EBITDA margin of 15% in the first quarter of 2013.
The major shareholders of Metinvest B.V. (the holding company for Metinvest Group) are SCM Group (71.25%) and Smart-Holding (23.75%), which partner in the Group’s management.
Metinvest Holding, LLC is the management company of Metinvest Group.