Metalloinvest Finance Designated Activity Company
Metalloinvest announces refinancing of PXF faciilities
Metalloinvest Finance Designated Activity Company / Miscellaneous – Medium Priority Moscow, Russia – 23 June 2017 – Metalloinvest (“the Company”), a leading global iron ore and HBI producer and supplier, and one of the regional producers of high-quality steel, has completed the refinancing of existing pre-export finance facilities amounting to USD 1.03 bn. The refinancing took place using funds obtained through a new pre-export finance facility (the “PXF-2017”), which was provided with a syndicate of international banks under the terms of the deal announced on 5 May 2017. As a result, the Company has improved its debt maturity schedule and reduced debt servicing costs. The PXF-2017 includes a USD 800 mn five-year tranche to be redeemed in 2020-2022 and The Company’s two recent debt management transactions, the PXF-2017 and Eurobond-2024 issue, reduced the Company’s debt payments due in the period 2017-2020 by almost half to USD 1.7 bn from USD 3 bn as at the end of 2016. # # # # For more information, please contact: 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 USM Holdings. Alisher Usmanov is the major beneficiary of USM Holdings (49%), with other major beneficiaries being the companies of Vladimir Skoch (30%) and Farhad Moshiri (10%).
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Language: | English |
Company: | Metalloinvest Finance Designated Activity Company |
28, Rublevskoye shosse | |
121609 Moscow | |
Russia | |
Phone: | +7 (495) 981-5555 |
Fax: | +7 (495) 981-9992 |
E-mail: | ir@metalloinvest.com |
Internet: | http://www.metalloinvest.com/ |
ISIN: | XS0918297382 |
WKN: | B9HLRV8 |
Listed: | Foreign Exchange(s) Dublin |
Category Code: | MSCM |
TIDM: | IRSH |
Sequence No.: | 4334 |
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